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Baltic Exchange shareholders approve takeover by Singapore Exchange

BalticExchange Ltd.'s shareholders approved Sept. 26 a proposedtakeover of thecompany by Singapore ExchangeLtd.

The offer remains subject to certain conditions, includingapproval from the U.K. Financial Conduct Authority and a ruling sanctioning thescheme from the U.K. High Court. The court would be expected to hold a hearingon the request as soon as possible following FCA approval.

Baltic Exchange agreed to the acquisition terms in August.Singapore Exchange offered to pay £160.41 in cash for each Baltic Exchangeshare, as well as a special dividend of £19.30 in cash per share, valuingBaltic Exchange's entire issued ordinary share capital at approximately £87.0million.