SM’s stock price increase to the highest level in the past 9 years, HYBE spent more than 50 trillion still being rejected
SM is such a “delicious piece of meat” for many large corporations. Many companies deploy different scenarios in the hope of taking over SM.
SM is a hot topic in recent days when a series of other companies are trying to capture this Kpop giant. Therefore, on August 4, SM Entertainment stock reached an impressive peak, closing the session at 71,900 won. This is the highest number recorded in the past 9 years. Previously, the highest stock price that SM ever achieved was 69,200 won (on September 13, 2012).
The higher the rate of competition among the big companies, the higher the stock price of SM. Currently, many companies involved in trying to buy SM include Naver, HYBE, Kakao, CJ…
Kakao is the company that is at the forefront of conquering SM. The company’s most recent proposal is to acquire SM and its management rights for about 2.5 trillion won. A lot of discussions took place between Kakao president Kim Bum Soo and SM representative Lee Soo Man.
In another development, HYBE also entered and was extremely willing to spend. Bang Si Hyuk’s company announced to buy SM at a higher price than Kakao. But unfortunately, Lee Soo Man quickly declined this offer.
Naver also gradually reached a dead end when the strategic cooperation relationship with SM showed signs of cracking. Specifically, SM intends to switch the Lysn fanclub platform to VLive Fanship, but Naver announced the merger of VLive and Weverse (HYBE & YG). For those who do not know, VLive will close soon in the near future.
The current strongest competitor to Kakao is CJ. The powerful female vice president of CJ ENM, Miky Lee, decided to fly back to Korea to meet Lee Soo Man.
Currently, SM has a market capitalization of 1.38 trillion won. However, this number is still not worthy because the company is having very positive activities in domestic and foreign markets. After many scandals and difficulties over the years in terms of tax obligations, Lee Soo Man seems to want to sell SM. And maybe this is the best time.
