SGX denies report it is considering bid for Cboe Australia
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Singapore Exchange held preliminary talks with Cboe and its advisers about a potential offer for the Australian unit, the AFR said, citing people with knowledge of the plan.
ST PHOTO: KUA CHEE SIONG
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SINGAPORE - Singapore’s stock exchange said on Dec 4 that it is not considering buying Cboe Global Markets’ Australian unit.
Its statement was in response to a report on Dec 4 by the Australian Financial Review (AFR) that said the Singapore Exchange (SGX) held preliminary talks with Cboe and its advisers about a potential offer for the Australian unit, citing people with knowledge of the plan.
SGX said in its statement: “The speculation reported in the AFR article and other media articles is inaccurate. SGX Group is not exploring or considering an acquisition of Cboe Australia.”
Bloomberg reported that the future of Cboe Australia is uncertain after its Chicago-based parent company announced plans to sell the unit, alongside Cboe Canada.
Australia’s financial regulator, which approved Cboe Australia’s listing-market application in October in an effort to increase competition, is working closely with the parent company to find a suitable buyer, Bloomberg added.
Back in 2011, SGX made an A$8.4 billion (S$7.2 billion) takeover bid for Australia’s main stock exchange ASX. But this was blocked, with the government at the time citing national interest reasons.
