Following the Australian government’s rejection of the $8.4 billion takeover of ASX Ltd
(ASX:ASX) by Singapore Exchange, the Foreign Investment Review Board has faced questioning over the direction it gave the government.
Treasurer Wayne Swan said in April the decision to block the deal was based on grounds of national interest after having received advice from the foreign investment watchdog, part of Treasury.
Treasury officials yesterday said that the local bourse may be a more attractive takeover target if regulators are granted power to address systemic risks in the financial system.
In the six months to 31 December 2010, ASX booked a net profit of $172 million.
