Australia: Clayton Utz advises Singapore Exchange on ASX merger deal
Last Updated: 26 October 2010

Sydney, 25 October 2010: Clayton Utz is acting as legal advisers to Singapore Exchange (SGX) on its proposed merger with ASX Ltd via scheme of arrangement, announced today.

Clayton Utz Corporate partners Rod Halstead and Karen Evans-Cullen are the firm's lead partners, with Banking partner Alex Schlosser advising on the financing of the transaction. Clayton Utz is advising SGX alongside Singapore law firm Allen & Gledhill LLP.

Under the Scheme terms, ASX shareholders will receive a combination of cash (AUD$22.00) and scrip (3.473 new ordinary SGX shares) for each ASX share.

The combined exchange group, ASX-SGX Limited, will have a market capitalisation of approximately AUD $16 billion at the current bid price. ASX and SGX will remain separate legal and locally regulated entities.

Commenting on the deal, Rod Halstead said: "This is an important transaction which represents the first merger of exchanges in the Asia-Pacific region in a period of significant structural change in global financial markets. It also continues Clayton Utz's strong track record of inbound cross-border M&A transactions."

To print this article, all you need is to be registered on Mondaq.com.

Click to Login as an existing user or Register so you can print this article.

 
Some comments from our readers…
“The articles are extremely timely and highly applicable”
“I often find critical information not available elsewhere”
“As in-house counsel, Mondaq’s service is of great value”

Press Releases from this Firm
Recent Content from this Firm
By Dean Gerakiteys
By Frank Bannon
By Tosin Aro, Mark Geritz
By Meg McKechnie
By Sergio Capelli
By David Foong, Ken Ooi, Samy Mansour, Brad Vann
By Chris Boge, Daniel Maroske
By Luke Buchanan, Hayden Fielder
By Claire Smith, Lauren Smith
By Michael Richardson, Tim Jones, Anna Trevor
Tools
Print
Font Size:
Translation
Channels