SGX completes buyout of Baltic Exchange

The total deal is worth $149.6m.

Singapore Exchange has completed its takeover of the privately-owned Baltic Exchange, sealing an 87 million pound (S$149.6m) deal for one of London's oldest institutions, the groups said on Tuesday.

The acquisition is one of the latest developments in a string of mergers, bidding wars and failed deals among global exchanges. SGX's offer also comes as the global shipping industry is struggling with its deepest downturn.

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