Singapore Exchange Limited (SGX) has progressed with its acquisition of Baltic Exchange Limited, having now mutually agreed to terms for a recommended offer for the entire issued share capital, per a recent Baltic Exchange report.

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The update follows on the heels of an earlier announcement this August, which signaled the support of Baltic Exchange shareholders given the proposal of SGX’s offering. Earlier this month, SGX reported that it would secure Baltic Exchange shares for a total of $210.1 (£160.41) in cash per Baltic Share.

In addition, Baltic Exchange Shares will also garner $25.3 (£19.30) as a final dividend. As such, the cash price and the special dividend value of Baltic Exchange’s entire issued ordinary share capital comes in at roughly $114.0 (£87.0 million). The deal was also supported by 74% of shareholders’ support of the existing issued share capital of Baltic Exchange.

Considerations

Under the deal and terms of the acquisition, SGX and SGX Baltic Investments Pte. Ltd will be formally committing to a number of different considerations. These include the following:

Singapore Exchange Limited (SGX) has progressed with its acquisition of Baltic Exchange Limited, having now mutually agreed to terms for a recommended offer for the entire issued share capital, per a recent Baltic Exchange report.

Take the lead from today’s leaders. FM London Summit, 14-15 November, 2016. Register here!

The update follows on the heels of an earlier announcement this August, which signaled the support of Baltic Exchange shareholders given the proposal of SGX’s offering. Earlier this month, SGX reported that it would secure Baltic Exchange shares for a total of $210.1 (£160.41) in cash per Baltic Share.

In addition, Baltic Exchange Shares will also garner $25.3 (£19.30) as a final dividend. As such, the cash price and the special dividend value of Baltic Exchange’s entire issued ordinary share capital comes in at roughly $114.0 (£87.0 million). The deal was also supported by 74% of shareholders’ support of the existing issued share capital of Baltic Exchange.

Considerations

Under the deal and terms of the acquisition, SGX and SGX Baltic Investments Pte. Ltd will be formally committing to a number of different considerations. These include the following: