SEOUL :HYBE Co Ltd, the agency representing top-selling South Korean boy band BTS, withdrew its plan to take control of SM Entertainment Co Ltd, the company said on Sunday.The move is seen as ending a weeks-long takeover battle between HYBE and social media giant Kakao Corp.HYBE said its decision to ha
SEOUL :HYBE Co Ltd, the agency representing top-selling South Korean boy band BTS, withdrew its plan to take control of SM Entertainment Co Ltd, the company said on Sunday.
The move is seen as ending a weeks-long takeover battle between HYBE and social media giant Kakao Corp. HYBE said its decision to halt the takeover bid came after the stock market had been showing"signs of overheating due to competition." Kakao last week launched a 1.25 trillion won tender bid for up to 35 per cent of SM Entertainment at 150,000 won per share, well above the 120,000 won per share offer from HYBE for a 25 per cent stake that gained little traction with shareholders.HYBE and Kakao agreed to cooperate on matters related to their platforms, HYBE added.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hybe drops bid to take over SM EntertainmentSEOUL : Hybe Co Ltd, the agency representing top-selling South Korean boy band BTS, withdrew its plan to take control of SM Entertainment Co Ltd, the company said on Sunday.The move is seen as ending its takeover battle with social media giant Kakao Corp.
Read more »
Kampong Gelam Ramadan Bazaar returns; 33 days celebration of lights and community - Singapore NewsThe entire experience will be best described into five pillars – food, retail, lights, entertainment and community.
Read more »
School teacher in South Korea under police probe for wielding scissors at colleagueSEOUL - A middle school teacher in Seoul is under police investigations on suspicions of brandishing a pair of scissors at a colleague. Read more at straitstimes.com.
Read more »
Sea cuts more jobs at Shopee days after posting surprise profitSea Ltd. is cutting more jobs at e-commerce unit Shopee in Indonesia, days after reporting a surprise first-ever quarterly profit.
Read more »
Hyundai Motor says various options under review for Russia plantSEOUL :Hyundai Motor is reviewing 'various options' for its Russia plant but no details have been decided yet, the automaker said in a regulatory filing on Friday.The clarification comes after a report by Yonhap news agency on Thursday that Hyundai was negotiating the sale of its manufacturing plant in Saint
Read more »
South Korean labour minister defends longer work week as helpful for mothersSEOUL - South Korea's labour minister said on Thursday (March 9) that lifting the weekly work hour cap to 69 hours from 52 will give working mothers more choice and help them raise children amid growing concerns over the country’s falling birth rates. The government says allowing workers to accrue more overtime hours in return for time off later will...
Read more »