SGX poised to launch ASX takeover bid

The Singapore Exchange is reportedly ready to make a full takeover bid for the Australian Securities Exchange today after the stocks of both companies went into a trading halt, according to The Australian newspaper. SGX has a market value of around S$10 billion ($7.8 billion), as against $6.2 billion for the ASX. According to the report, final details are still being worked out, but it is likely SGX will provide the chairman and chief executive, with ASX chair David Gonski likely to b…