Did HYBE manage to acquire SM Entertainment?

Did HYBE manage to acquire SM Entertainment? HYBE, SM’s main shareholder with 14.8%, sought to acquire an additional 25% of the shares of other shareholders to attend the general meeting of shareholders with 40% of the capital. So did HYBE manage to acquire SM Entertainment? If you want to know more about this news that kept many fans of groups from both companies waiting, stay at Korean Fashion Trends. Scroll down and keep reading!

Did HYBE acquire SM Entertainment?

Did HYBE manage to acquire SM Entertainment? After all, HYBE couldn’t acquire SM ENTERTAINMENT. Hybe withdrew from the competition for the acquisition of SM Entertainment after reaching an agreement with Kakao.

Hybe said that the acquisition process was interrupted a couple of days ago when they reached an agreement with Kakao. Both companies were competing to become the largest shareholder of SM ENTERTAINMENT.

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Why did HYBE want to acquire SM Entertainment?

Did HYBE manage to acquire SM Entertainment? Although HYBE didn’t acquire SM Entertainment in the end, it is necessary to remember how the whole process began.

In February, they announced from Hybe that they had become the agency’s largest shareholder after signing an agreement with Lee Soo Man, the previous CEO and who held the largest number of shares.

It caused chaos in the current administration of SM and also in Kakao, the conglomerate that had the most power in shares in SM. This problem ended with internal letters, courts, and videos on YouTube.

What was the statement about the cancellation of the acquisition of SM Entertainment by HYBE?

Did HYBE manage to acquire SM Entertainment? HYBE, the South Korean K-pop agency behind the global bestseller BTS, has failed in its attempt to become a majority partner of its biggest rival in the industry, SM Entertainment, home to groups like EXO and Girl’s Generation. And according to a press release, HYBE “made this decision after observing that the market has been showing signs of overheating due to competition with Kakao and Kakao Entertainment.

HYBE contemplated the possibility that this acquisition, along with the public offering, could damage [HYBE]’s shareholder value and fuel market overheating, in making the decision. We agreed to suspend the process of taking the right to run SM, and at the same time, we reached an agreement on how we can cooperate between the two companies (Hybe and Kakao).”

Did HYBE manage to acquire SM Entertainment? After a month where HYBE competed for the majority shareholder of SM ENTERTAINMENT, the results are out today. What’s your opinion about it? Tell us in the comments, and don’t forget to visit us every day. Remember that you still have time to subscribe to our newsletter. In this way, you will receive notifications of our updates on news and discounts on Korean fashion. See you!

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