Strategic Merger through the Backdoor Listing: Kakao and Daum Case in IT service industry in Korea
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Mergers and acquisitions have emerged as the top strategic moves of companies in the same industry. Not only survival and growth, related expansion through the M&A have now been preferred options for forward looking corporate competitors. The Kakao Corp. announced acquisition of Daum in 2014. The acquisition will create the “IT Dinosaur” in Korean market. Since Daum is a listed companies but not for Kakao, the acquisition will be reverse acquisition, so-called, “backdoor listing”. In the present paper, an attempt has been made to see how Kakao has been affected by its acquiring of Daum. For this purpose authors have analyzed the anticipating effects of the M&A. The paper concludes that both companies are apparently in benefit of their integration.
Abstract
Mergers and acquisitions have emerged as the top strategic moves of companies in the same industry. Not only survival and growth, related expansion through the M&A have now been preferred options for forward looking corporate competitors. The Kakao Corp. announced acquisition of Daum in 2014. The acquisition will create the “IT Dinosaur” in Korean market. Since Daum is a listed companies but not for Kakao, the acquisition will be reverse acquisition, so-called, “backdoor listing”. In the present paper, an attempt has been made to see how Kakao has been affected by its acquiring of Daum. For this purpose authors have analyzed the anticipating effects of the M&A. The paper concludes that both companies are apparently in benefit of their integration.
참고문헌 (10)
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