SGX’s Baltic Exchange acquisition earns 74% support from shareholders

It needs 75% for the purchase to push through.

Following a period of extensive consultation with its shareholders, The Baltic Exchange has finally accepted Singapore Exchanges’ proposed acquisition of the London-based maritime market information source.

An announcement posted by Baltic Exchange revealed that the directors and shareholders representing around 74% of the company have voted in favour of the acquisition. The purchase agreement requires at least 75% to push through, according to the terms released by SGX and Baltic Exchange.

As previously declared, Baltic Exchange shareholders will receive GBP160.41 cash price for each Baltic Exchange share and GBP19.30 special dividend per Baltic Exchange Share as a final dividend, or a total of GBP87.0 million (S$153 million) total issued ordinary share capital.

The acquisition will be supervised by the UK Financial Conduct Authority (FCA) and is under the jurisdiction of the courts of England and Wales.

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