SGX extends exclusive talks for proposed Baltic Exchange takeover

Both parties have made “good progress” in the discussions.

Singapore Exchange and the Baltic Exchange have jointly agreed to extend the period of exclusive discussions regarding the SGX’s proposed takeover.

The period of exclusive talks has been extended from 30 June 2016 to 31 August 2016.

In a statement, the parties said that they have together met with shareholders and much of the stakeholder community over the past weeks to discuss the transaction and have made “good progress” in consultations.

The extension to the period of exclusivity allows this dialogue to continue before the final terms of the transaction are agreed.

Despite the extension, the SGX reiterated that there is no assurance that the exclusivity agreement signed on 25 May 2016 will lead to any definitive agreement or completion of the takeover.