<p>The proposed deal would have a volume of about $8.3 billion in cash and stock bid, SGX said in a statement.<br /><br />"The combination of ASX and SGX will create the world's fifth-largest listed exchange group with a broad international shareholder base," it said.<br /><br />If approved by Australian regulators, the deal would be the first major consolidation of exchanges in the Asia-Pacific region amid growing competition.<br /><br />The new group would "increase ASX's and SGX's competitiveness in a changing global markets landscape", the statement said.<br /><br />The Singapore exchange has a market value of about $7.7 billion against $6 billion for its Australian counterpart.<br /><br />According to the statement, ASX and SGX would remain separate legal and locally regulated entities.<br /><br />Being the holding company of the combined group, the new ASX-SGX Ltd would be listed on both the Singapore and the Australian exchanges.<br /><br />SGX chief executive Markus Boecker was set to become CEO of the combined group, while current ASX chairman David Gonski would move to deputy chairman.<br /><br />ASX shareholders would receive 22 Australian dollars ($21.8) cash for each share they hold and 3.47 new SGX shares, said the Singapore company.</p>
<p>The proposed deal would have a volume of about $8.3 billion in cash and stock bid, SGX said in a statement.<br /><br />"The combination of ASX and SGX will create the world's fifth-largest listed exchange group with a broad international shareholder base," it said.<br /><br />If approved by Australian regulators, the deal would be the first major consolidation of exchanges in the Asia-Pacific region amid growing competition.<br /><br />The new group would "increase ASX's and SGX's competitiveness in a changing global markets landscape", the statement said.<br /><br />The Singapore exchange has a market value of about $7.7 billion against $6 billion for its Australian counterpart.<br /><br />According to the statement, ASX and SGX would remain separate legal and locally regulated entities.<br /><br />Being the holding company of the combined group, the new ASX-SGX Ltd would be listed on both the Singapore and the Australian exchanges.<br /><br />SGX chief executive Markus Boecker was set to become CEO of the combined group, while current ASX chairman David Gonski would move to deputy chairman.<br /><br />ASX shareholders would receive 22 Australian dollars ($21.8) cash for each share they hold and 3.47 new SGX shares, said the Singapore company.</p>