Merger Rumor Again
The share price of the ailing South Korean container carrier Hanjin Shipping Co. is rising in early trading due to rumors that it is to be acquired by two global shipping giants – Maersk and MSC.
Hanjin Shipping’s share price is being traded at 1,235 won (US$1.12) on the Korean stock market as of 9:15 am on September 6, up 15.42 percent, or 165 won (US$0.15) from the previous trading day.
According to a report about the effect of Hanjin Shipping’s current situation on the global market trend published by the Netherlands-based Busan Port Authority (BPA) Europe on the 5th, there are rumors in Europe that Maersk or MSC that consist of the world’s largest shipping alliance, 2M, is likely to purchase Hanjin Shipping.
Jung Min-hee
marie.kim@businesskorea.co.kr