SINGAPORE (May 25): Singapore Exchange (SGX) has entered into “exclusive discussions” over a cash offer for 100% of the share capital of London-based The Baltic Exchange.

“We are delighted to have been granted exclusivity to discuss this potential transaction and look forward to working with Baltic Exchange’s shareholders, members and relevant stakeholders to further discuss our proposals,” says SGX CEO Loh Boon Chye on Wednesday.

This comes on the heels of SGX’s announcement on Feb 26 that it had submitted a non-binding bid for the acquisition of the Baltic Exchange.

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