ASX bids A$2.3 billion for SFE
SFE shareholders were also given the option of receiving A$2.58 per share in cash and the balance in shares.
A previous takeover attempt, in 1999, was blocked by the Australian Competition and Consumer Council (ACCC), which said it would diminish competition. The ACCC has yet to approve the revived proposal, but local press quoted the ACCC general manager of mergers and assets, Tim Grimwade, as saying, "The proposed acquisition does not appear to raise competition concerns."
If the merger goes ahead, ASX chairman Maurice Newman and chief executive Tony D'Aloisio will retain their positions in the merged group. SFE chairman Rick Holliday-Smith and two other SFE directors will join the ASX board, and SFE chief executive Robert Elstone will leave the company.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Exchanges
Risk Management
After bruising EU model review, banks ask: ‘Why bother?’
Post-Trim changes erode capital savings from internal models while raising their running costs
Receive this by email
Most read on Risk.net
- After bruising EU model review, banks ask: ‘Why bother?’
- Mixed signals as swap dealers begin quoting ‘SOFR first’
- Capturing the effects of climate change on CVA and FVA
- Swaptions get fallback safety net, but crave CCP fix
- Anti-fraud product & Anti-money laundering product of the year – BlackSwan Technologies’ ELEMENT™ of Compliance