ASX–SGX Merger Hits Snag


The merger plans of the Australian Securities Exchange (ASX) and the Singapore Exchange (SGX) have hit a snag as the Australian government has deemed the tie-up "contrary to the national interest."

The bad news for the exchange operators was delivered earlier today by the Foreign Investment Review Board—operating under Australia's Foreign Acquisition and Takeovers Act—which informed the parties that federal treasurer Wayne Swan recommends rejecting the deal.

"SGX has been invited to provide

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