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ASX LIMITED — M&A Activity 2011
Apr 4, 2011
64439_rns_2011-04-04_70ed7ec3-89c5-40cc-bcb1-890a987e1b0c.pdf
M&A Activity
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MARKET ANNOUNCEMENT
5 April 2011
Treasurer disposed to reject ASX-SGX merger proposal
ASX Limited (ASX) advises that Singapore Exchange Limited (SGX) has today been notified by the Foreign Investment Review Board that the Federal Treasurer, the Honourable Wayne Swan is disposed to the view, under the Foreign Acquisitions and Takeovers Act, that the proposed merger of ASX and SGX should be rejected as contrary to the national interest.
The ASX Board maintains an ongoing belief in the need for ASX participation in regional and global exchange consolidation. This, together with the business logic of the combination proposal announced with SGX on 25 October 2010, resulted in the ASX Board unanimously recommending the ASX-SGX merger proposal to ASX shareholders. In this context ASX will continue to evaluate strategic growth opportunities (including further dialogue with SGX on other forms of combination and co-operation).
Amanda J Harkness
Group General Counsel & Company Secretary
Further information:
Media
Matthew Gibbs Manager, Corporate Relations Tel: +612 9227 0218 Email: [email protected]
Analysts
Ramy Aziz Chief Financial Officer Tel: +61 2 9227 0027 Email: [email protected]
Leeanne Bland Corporate Relations Executive Tel: +612 9227 0410 Email: [email protected]
Rachel Cooper Investor Relations Executive Tel: +61 2 9227 0835 Email: [email protected]