HYBE Confirms Agency Is Considering Acquiring Shares In SM Entertainment
On February 9, HYBE confirmed, “We are continuing to review matters related to the acquisition of shares, including a tender offer regarding SM’s shares. At the time of this statement, nothing has currently been confirmed.”
HYBE added, “In the future, we will re-disclose when specific details regarding this are confirmed, or within a month.” Earlier this week, Kakao acquired 9.05 percent of SM Entertainment’s shares. This resulted in Kakao becoming the second-largest shareholder in SM and the signing of a three-way business contract between Kakao, Kakao Entertainment, and SM.
However, SM’s founder Lee Soo Man has objected to this decision by the board of directors and will be taking legal action against the agency.
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