Australian bourse operator ASX says it continues to believe in the business logic of a proposed $7.6 billion takeover by Singapore rival SGX and also saw a need to take part in global bourse consolidation. "The ASX Board maintains a strong belief in the need to participate in global exchange consolidation and in the business logic of the announced combination with Singapore," it said in a statement on Thursday. "The recent merger announcements by the London and Toronto exchanges as well as by NYSE Euronext and Deutsche Borse, underscore the dynamic forces driving developments among global exchanges."
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