SGX reportedly readies $100m Baltic Exchange offer

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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