South Korea's Kakao launches $962m offer to buy up to 35% in SM Entertainment

South Korea's Kakao launches $962m offer to buy up to 35% in SM Entertainment

Photo: Kakao Entertainment Asia

South Korean tech group Kakao launched a 1.25 trillion won ($962 million) offer for K-pop agency SM Entertainment on Tuesday, escalating a takeover battle with BTS manger HYBE, whose proposal did not to win enough support from SM investors.