K-pop giant HYBE drops bid for SM Entertainment, ending takeover battle

The move is seen as ending a weeks-long takeover battle between HYBE and social media giant Kakao CorpHYBE said its decision to halt the takeover bid came after the stock market had been showing "signs of overheating due to competition."a 1.

25 trillion won tender bid for up to 35% of SM Entertainment at 150,000 won per share, well above the 120,000 won per share offer from HYBE for a 25% stake that gained little traction with shareholders.HYBE and Kakao agreed to cooperate on matters related to their platforms, HYBE added.

they gotta watch out for all those BE's behind them!

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