Bidding war for SM Ent. takeover

Seen here is the headquarters of K-pop powerhouse SM Entertainment Co. in Seoul on March 7, 2023. Earlier in the day, South Korean tech giant Kakao Corp. and its entertainment unit, Kakao Entertainment Corp., offered 150,000 won (US$115.4) per share to acquire an additional 8.33 million shares in SM Entertainment, with a goal to secure a combined 35 percent share to win the intensifying battle with Hybe. (Yonhap)

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