Singapore Exchange, Baltic Exchange extend exclusive M&A talks

Singapore Exchange Ltd (SGX) said on Tuesday it has agreed with the Baltic Exchange to extend the period of exclusive negotiations for its bid to buy the Baltic bourse by two months.

SGX has been in exclusive talks to buy London's Baltic Exchange, which has been at the heart of the global shipping industry for centuries, since May 25.

The period for exclusive talks has been extended to Aug. 31 from June 30, SGX said in a statement.

"SGX and the Baltic Exchange have together met with shareholders and much of the stakeholder community over the past weeks to discuss the transaction and have made good progress in consultations," SGX said in a statement