South Korea’s Hanwha quits $1.2 billion takeover pursuit of Austal after cold shoulder

by Pelican Press
1 views 1 minutes read

South Korea’s Hanwha quits $1.2 billion takeover pursuit of Austal after cold shoulder

South Korean conglomerate Hanwha has quit its $1.2 billion pursuit of Austal with a dummy-spit, accusing the Henderson shipbuilder of refusing to engage in good-faith takeover talks.

In a letter sent to Austal on Wednesday, Hanwha chief executive Hyek Woong Kwon said the group had pulled its proposed $2.825-a-share offer, citing the WA company’s lack of “desire” to negotiate a binding bid.



Source link

#South #Koreas #Hanwha #quits #billion #takeover #pursuit #Austal #cold #shoulder

You may also like