Magnus Bocker has cost Singapore Exchange Ltd.’s shareholders $1.5 billion with his gambit to buy Australia’s ASX Ltd. Putting his own bourse up for sale may be the fastest way to recoup those losses.
Singapore Exchange Ltd. plans to offer cash and stock worth about A$8.4 billion ($8.2 billion) to buy ASX Ltd., operator of the Australian stock exchange, said two people familiar with the matter.
Singapore Exchange Ltd.’s offer to pay the biggest premium ever for a securities exchange to buy ASX Ltd. is now giving traders a chance to double their money.
Singapore Exchange Ltd. is paying an “unusually high” price for its proposed takeover of ASX Ltd., said Atsushi Saito , president of the Tokyo Stock Exchange, a shareholder of the Singapore bourse.