Tuesday, February 15, 2011

Singapore revises offer for Australia's stock market manager

Feb 15, 2011, 6:58 GMT








It varied the terms of its 8.4-billion-US-dollar cash-and-stock offer for Australian Securities Exchange (ASX) Ltd so Singapore and Australia would each have five citizens on the board of the new entity. The offer made in October proposed four Australians on the board, prompting Australians to ridicule Singapore's claim that a merger of equals was proposed rather than a takeover. 'There will be five Australian and five Singaporean citizens

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