The proposed merger of the Australian and Singaporean exchanges: A match made in heaven?

• Main Authors: FOO, See Liang, OHLSSON-CORBOZ, Ann-Valerie
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2012
• Subjects: M&A; strategy; stakeholders; communications; cross-cultural issues; Corporate Finance; Finance and Financial Management
• Online Access: https://ink.library.smu.edu.sg/cases_coll_all/12; https://cmp.smu.edu.sg/case/3131
• Institution: Singapore Management University

The Singapore Exchange Limited (SGX) proposed takeover of the ASX Limited (ASX) was a watershed event, and the first of its kind involving two exchanges in the Asia-Pacific. This case showcases the multifaceted dimensions and intricacy of cross-border mergers and acquisitions. A number of issues had to be addrressed. These included: Was the offer price right? Was the takeover strategy appropriate? Were the preparations adequate for key stakeholders’ buy-in of the takeover? Were employees’ job security assured? What were the synergies and sustainable value-propositions and how were these transacted into corporate financial and cultural well-being?