HYBE denies the acquisition of SM Entertainment shares is a hostile takeover
According toPlan to acquire rival K-pop company SM Entertainment is not part of any hostile takeover strategy, and it can actually help SM artists advance to the North American market if the plan is realized- agreed to acquire a 14.8% stake in SM Entertainment from. The label also offered to buy an additional 25% from other SM shareholders in a tender offer and aimed to gain a total of 40% stake in SM Entertainment.
That's because we agreed to buy shares held by SM's largest shareholder through mutual consent and publicly offered to buy shares from smaller shareholders on the same condition as the largest shareholderHYBE can help SM artists advance into the North American market using BTS' great achievements in the market along with the network and know-how of Ithaca Holdings.
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