The Financial Conduct Authority (FCA) has approved the Singapore Exchange’s takeover on the London-based Baltic Exchange.
Shareholders gave their backing to the £87m deal, which is due to complete on 8 November, last month.
The Baltic announced today that the FCA approved the deal on 13 October.
The Singapore Exchange beat a number of suitors to the deal, with the Baltic announcing they had entered exclusive talks at the end of May.
Under the terms of the deal, Singapore will pay £160.41 per share in cash and £19.30 per share as a special dividend.
The company also confirmed under the terms that it would retain the Baltic’s City of London headquarters and said it was committed to the target’s “ethos as a membership organisation”.
The financial maritime hub was also understood to have attracted interest from the CME Group, Intercontinental Exchange and Platts.
The London exchange is home to the Baltic Dry Index, which measures the cost of shipping huge quantities of coal, ore, grain and other dry commodities across the world.