Deals
Bocker Strategy in Peril With Singapore Exchange Losing ASX Bid
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Magnus Bocker, the Singapore Exchange Ltd. chief executive officer whose attempt to take over Australia’s bourse spurred a $20 billion round of global market consolidation, may have lost his partner.
Australian Treasurer Wayne Swan said the Foreign Investment Review Board advised him against the A$7.74 billion ($8 billion) offer for ASX Ltd., which would have created the world’s fifth-largest exchange operator by the value of its shares. Singapore Exchange expects a final ruling within days, the CEO said yesterday on a conference call.