HYBE & Kakao hold second meeting to come to a settlement on the acquisition of SM
According to media outlet reports on March 11 KST, representatives ofheld a private meeting on the afternoon of March 10 to discuss a potential settlement on the issue of which side will acquireIndustry insiders believe that with the price of SM Entertainment's stocks having reached double its price from just a month ago, both sides have now entered the danger zone of the"winner's curse".
Previously, both HYBE and Kakao put out a tender offer to current shareholders of SM Entertainment, with HYBE setting its offer at 120,000 KRW per stock and Kakao at 150,000 KRW per stock. Currently, SM Entertainment stocks are steadily surpassing the offered prices by both companies. Some insiders believe that HYBE and Kakao will be seeking for a settlement in which no one side takes complete control of SM Entertainment, instead opting for co-management or other similar methods.
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