Singapore Exchange (SGX) is pushing back against a report that it is exploring a takeover of Cboe Global Markets’ Australian business. The Australian Financial Review (AFR) earlier reported that SGX had held preliminary discussions with Cboe and its advisers about a potential bid for the exchange operator’s Australian unit, citing people familiar with the matter.
According to the AFR, SGX had examined the strategic value of expanding its regional footprint via an acquisition of Cboe Australia, one of the country’s key equity-trading platforms.
However, SGX issued a statement rejecting the report, saying the story was “inaccurate.” No details were provided, but the response suggests the talks — if any occurred — are not proceeding in the way the report implied.
This article was written by Eamonn Sheridan at investinglive.com.