LONDON (Reuters) - London's Baltic Exchange said on Wednesday it will consult with major shareholders to seek their support for an offer by Singapore Exchange (SGX) (SI:SGXL) to acquire the business.
"Subject to receiving sufficient support, and to it receiving the endorsement of the Baltic Exchange board, it is expected that a scheme of arrangement will then be circulated to shareholders and a general meeting will be announced, for shareholders to vote on an offer from SGX," the Baltic said in a statement.
A Baltic spokesman said the meeting was unlikely to take place before September.