Singapore Exchange (SGX) today effectively won its bid to take over the Baltic Exchange after over 75% of shareholders pledged to support the deal, although it emerged that a number of panellists - who are crucial to the Baltic’s indices - have yet to agree.
In a letter to shareholders, Baltic chairman Guy Campbell said holders of 75.2% of the Baltic’s shares have now made irrevocable undertakings to accept the SGX bid, breaking through the 75% threshold needed to succeed.
The
