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Baltic Exchange says to seek shareholder support for SGX offer

Reuters

LONDON (Reuters) - London's Baltic Exchange said on Wednesday it will consult with major shareholders to seek their support for an offer by Singapore Exchange (SGX) (SGXL.SI) to acquire the business.

"Subject to receiving sufficient support, and to it receiving the endorsement of the Baltic Exchange board, it is expected that a scheme of arrangement will then be circulated to shareholders and a general meeting will be announced, for shareholders to vote on an offer from SGX," the Baltic said in a statement.

A Baltic spokesman said the meeting was unlikely to take place before September.

(Reporting by Jonathan Saul, editing by Veronica Brown)