Published 1 year ago

K-pop takeover battle loser HYBE to sell $437 mln stake in SM

Summary by Ground News

HyBE's 15.78% stake in SM Entertainment is worth 564 billion won ($437.14 million) Social media giant Kakao Corp's tender offer to acquire up to 35% of the company at 150,000 a share closes on Friday. Kakao's price was well above HYBE's 120,000 won per share offer that had gained little traction.

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Reuters

K-pop takeover battle loser HYBE to sell $437 mln stake in SM

South Korean music label HYBE , manager of boy band BTS, said on Friday it aimed to sell its entire 15.8% stake in K-pop pioneer SM Entertainment for 564 billion won ($437 million) by accepting a tender offer from bidder Kakao.

1 year ago·United Kingdom

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Financial Post

pop takeover battle loser HYBE to sell SM Entertainment stake

SEOUL -- South Korean music label HYBE, which manages boy band BTS, said on Friday it would try to sell its entire stake in SM Entertainment after losing a battle for control of the K-pop pioneer.

1 year ago·Canada

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Variety

Hybe to Sell SM Entertainment Stake After Losing to Kakao in K-Pop Bid Battle

Hybe Corp., the talent powerhouse behind K-pop sensation BTS, said on Friday that it will sell its share stake in agency rival SM Entertainment. The move would finalize Hybe’s admission of defeat in a dramatic takeover battle in which it was out-gunned by Korean tech leader Kakao Corp. Hybe initially bought a 14.8% stake in […]

1 year ago·Los Angeles, United States

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The Korea Times

Hybe to sell SM shares to Kakao following failed takeover bid

Hybe, the K-entertainment powerhouse behind global superstar group BTS, said Friday it will sell off all of its 15.78 percent stake in SM Entertainment to Kakao after its bid to take over the rival entertainment agency fell through.

1 year ago·Korea, Republic of

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CNN Indonesia

HYBE Sells All SM Entertainment Stake

HYBE decided to sell 3,737,237 shares of SM Entertainment for 567 billion won or equivalent to Rp6.6 trillion.

1 year ago·Indonesia

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Devdiscourse

K-pop takeover battle loser HYBE to sell SM Entertainment stake

K-pop takeover battle loser HYBE to sell SM Entertainment stake South Korean music label HYBE, which manages boy band BTS, said on Friday it would try to sell its entire stake in SM Entertainment after losing a battle for control of the K-pop pioneer.HYBE's 15.78% stake in SM is worth 564 billion won ($437.14 million) based on social media giant Kakao Corp's tender offer to acquire up to 35% of the company at 150,000 a share, which closes on Fr…

1 year ago

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