Australia Gives Blessing To $8.2B ASX-SGX Merger

Law360, New York (December 15, 2010, 1:23 PM EST) -- Australia's antitrust watchdog has given the green light to the proposed $8.2 billion merger between Australian stock exchange ASX Ltd. and Singapore Exchange Ltd., following the launch of a probe into the deal in November.

The Australian Competition and Consumer Commission said Wednesday that it would not oppose SGX's purchase of ASX, following a review under the Trade Practices Act of 1974.

SGX does not compete with ASX for trading, clearing or settlement services in Australia, according to the ACCC. ASX and SGX do compete for...
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