On the news that Tencent, a Chinese corporation, is considering acquiring NEXON GAMES, a representative gaming company in Korea, the stock price of NEXON GAMES rose sharply in early trading on the 13th.
As of 9:10 a.m. on that day, NEXON GAMES was trading at 17,460 won, up 2,220 won (14.57%) from the previous trading day.
The previous day, Bloomberg reported that "Tencent Holdings is considering a NEXON deal to strengthen its gaming business." Tencent, based in Shenzhen, China, is said to have contacted the family of the late Kim Jung-ju, the founder of NEXON Group, to explore acquisition possibilities.
Local Chinese media, including SinoFinance, also reported that "Tencent is considering acquiring the gaming company NEXON for $15 billion (about 20.3 trillion won)." Previously, Tencent attempted to acquire NEXON in 2019, but the deal fell through during price negotiations.
The stock price of NEXON GAMES surged as buying pressure increased due to the large-scale acquisition rumors. NEXON has not officially responded to inquiries regarding the acquisition.