Singapore Exchange To Buy Aussie Counterpart For $8B

Law360, New York (October 25, 2010, 6:13 PM EDT) -- Singapore’s SGX stock exchange plans to purchase Australia’s ASX Ltd. stock exchange for AU$8.4 billion (US$8.3 billion), creating the Asia-Pacific region’s second-largest exchange and the world’s fifth-largest.

The combined exchange would boast market capitalization totaling $12.3 billion, trailing only Hong Kong in the region, representatives for the exchanges said jointly Monday.

The combined exchange will also be the second-largest listing venue in the Asia Pacific region, with more than 2,700 listed companies hailing from more than 20 countries, officials said.

The exchange will boast the Asia...
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