Singapore Exchange Ltd has terminated its $8 billion bid for Australia's ASX Ltd after the Australian government formally rejected the offer on national interest grounds and said changes to the country's financial systems were needed before the bourse could be bought by foreigners. It was the first time the Australia government has rejected a major foreign takeover on national interest grounds since 2001 when Royal Dutch Shell's (RDSa.L) bid for Woodside Petroleum was blocked. SGX said on Friday it would pursue other strategic growth opportunities in the region and continue talks with ASX about other forms of cooperation.
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