On 21 August, it was reported that Harim Group, Dongwon Group, LX Group, and Hapag-Lloyd have been short-listed as preliminary bidders for HMM. We continue to have a Negative view of HMM.
Boomeranged on Tue, 19 Sep 2023 23:33
Kim Jae-cheol, the honorary chairman of Dongwon Group, expressed his determination to acquire HMM today, saying, “I think the acquisition of HMM is culmination of a dream.” This is likely to further negatively impact Dongwon Industries (006040 KS) as more investors fear that Dongwon may overpay for HMM. Dongwon Industries' market cap is 1.5 trillion won, vs HMM's market cap of 8.1 trillion won.
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