A formal offer to take over the Baltic Exchange is expected to be made shortly by the Singapore Exchange, Reuters is reporting, with a price in the region of $100m for the 272-year-old London trading institution.
The two sides have been holding exclusive talks since May 25. These talks were extended through to the end of this month as both sides tried to woo the Baltic’s shareholders.
Neither the Baltic nor SGX have confirmed the Reuters report.
A source connected to the Baltic Exchange told Splash today that the deal was indeed done and an announcement was likely soon.