Kakao, In Progress of Reviewing Nexon for Potential Acquisition

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Kakao, the Korean company with a market value of 7.1$ billion, may potentially acquire Nexon.

On the 29th, Kakao told Inven Global that they've "had inside talk regarding a Nexon acquisition." Though they reportedly "haven't decided on a transition consultant yet," the company is "thoroughly reviewing the possibility of an acquisition."

Previously on the 3rd of January, NXC chairman, Kim Jeong-joo let go of the 98.64% share that he had with his company. It's reported by many that Deutsche Bank and Morgan Stanley will be working in tandem for the auction. Nexon's market value in early January stood at $1.1 billion, and the share that Kim put up for auction is valued at approximately $900 million. 

When the news first hit the media, many predicted that Tencent, who holds funds of up to $100 billion, was the most likely candidate to take over Nexon. Chairman Kim gave his thoughts regarding the background of the sale by stating, "I won't dwell on the present. I'm considering many different options to make Nexon a competitive, global company."

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