BTS agency HYBE says it has called off a takeover bid for SM Entertainment
said Sunday it made its decision “after observing that the market has been showing signs of overheating due to competition with both Kakao and Kakao Entertainment.” “The company has also taken into account the potential negative impact on
’s previous offer of 120,000 won per share, which garnered only mild interest from investors. There were concerns in the industry that Chairman Bang Si-Hyuk had rejected those accusations in an exclusive interview with CNN’s Richard Quest.
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