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Singapore Exchange’s Bocker Faces Revolt on Australia

Magnus Bocker, who stitched together eight European stock exchanges and sold them in a bidding war, is running into a wall with shareholders and politicians over his plan to acquire Australia’s main bourse.

Singapore Exchange Ltd. posted its worst two-day drop in two years after Chief Executive Officer Bocker unveiled an $8 billion takeover of ASX Ltd. this week. Australian Green party leader Bob Brown said he won’t support the bid and Tokyo Stock Exchange Group Inc., with a 5 percent stake in its Singapore rival, warned it will be saddled with losses.