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Australia Poised To Reject $7.9B ASX Deal: SGX

Law360 (April 5, 2011, 1:16 PM EDT) -- Singapore Exchange Ltd. on Tuesday announced that the Australian government was leaning toward rejecting on national security grounds its proposed $7.9 billion merger with the Australian stock exchange ASX Ltd.

According to the announcement, Australian Treasurer Wayne Swan informed SGX that the merger would be “contrary to Australia’s national interest” based on advice from the country's Foreign Investment Review Board.

The Singapore Exchange said the FISB had given it the chance to provide further comments about the merger. The company added that it was considering “appropriate...
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