CJ ENM And SM Reply To Experiences Of CJ ENM’s Acquisition Of SM Leisure

CJ ENM and SM Leisure are in talks a couple of potential acquisition of SM Leisure by CJ ENM.

On October 21, Maeil Enterprise Newspaper reported that CJ ENM could be buying SM Leisure and publicizing the information on October 22.

The outlet reported that whereas CJ ENM could be taking SM Leisure’s govt producer Lee Soo Man’s standing as the corporate’s largest shareholder, Lee Soo Man would proceed to hold out the function of the top who directs the corporate’s content material enterprise.

Lee Soo Man presently owns 18.73 % of SM Leisure shares. In keeping with the report, CJ ENM assesses SM Leisure’s whole worth to vary from 3 trillion to 4 trillion received (roughly $2.5 billion to three.4 billion) and plans to purchase all of Lee Soo Man’s shares at a value between 600 billion to 700 billion received (roughly $509 million to 594 million).

In keeping with the information outlet, the 2 firms are additionally discussing the potential for CJ ENM splitting their music enterprise sector to merge with SM Leisure. They’re additionally contemplating the choice to make CJ ENM the most important shareholder whereas having Lee Soo Man hold a few of his shares.

In response to the report, SM Leisure said, “We’re having discussions with varied firms from a number of angles, and it isn’t true that the acquisition settlement will probably be signed on October 22.”

CJ ENM additionally stated, “We’re reviewing varied strategies for the expansion of our music enterprise, however nothing is confirmed.”

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