After months of discussions, Singapore Exchange (SGX) has made a formal offer of GBP77.6m (USD102.2m) for London's Baltic Exchange.
Namely, the shareholders are being offered GBP160.41 in cash per Baltic share.
It is contemplated that the Baltic shareholders will also receive from the Baltic Exchange a minimum of GBP18.80 in cash per Baltic share, as a final dividend, conditional upon the acquisition proceeding. This brings the total valuation of the Baltic Exchange at a minimum of GBP86.7m.
The Baltic Exchange will now consult its major shareholders to secure their support for SGX's offer.
The London's exchange entered into exclusive talks with SGX on the acquisition in May, following discussion with a number of interested bidders.
London's exchange earlier said that SGX's proposal was "attractive" and that it "has the potential to enhance significantly the position of the Baltic, serving the needs of Baltic members, shareholders and other stakeholders."
SGX Makes $102m Offer for Baltic Exchange
2016-08-05
2930人
Source：World Maritime News
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