Macquarie Asset Management Group is moving to acquire South Korean internet infrastructure company Gabia and its listed subsidiary KINX simultaneously, with plans to take both companies private. Unlike the initial tender offer, which failed in September due to insufficient shareholder participation,
Macquarie Asset Management Group is planning to acquire South Korean internet infrastructure companies Gabia and its subsidiary KINX through full tender offers. This follows the failure of the initial tender offer due to insufficient shareholder participation, and involves a price agreement with major shareholders, including activist fund Align Partners.
The acquisition price for Gabia has been raised by approximately 10.4% to 53,000 won ($39.68) per share, with a tender offer for all outstanding KINX shares set at 190,000 won each. The deal aims to resolve the double-listing issue and protect minority shareholders by offering them equal opportunities to sell their shares. Once government approvals are obtained, the tender offers are scheduled to begin within 10 business days.
Brief written by urgent.news from BusinessKorea's own syndicated text.
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