[Featured Stock] Celltrion Group Shares Rise on Merger Push
Shares of the Celltrion Group are rising on expectations of a merger.
As of 1:57 PM on the 13th, Celltrion is trading at 156,800 KRW, up 2.82% from the previous day. Celltrion Healthcare is also up 3.08% (67,000 KRW), and Celltrion Pharm is rising 11.89% (89,400 KRW).
Celltrion, Celltrion Healthcare, and Celltrion Pharm each announced on the same day that they are "currently reviewing a merger between the business companies." In particular, Celltrion stated that "the lead merger advisor has been selected."
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Since Seo Jung-jin, Chairman of the Celltrion Group, returned to management in March, the group has been pushing for a merger of the three companies. At a press conference upon his return, Chairman Seo said, "The idea of merging the three companies remains unchanged," and added, "I expect the administrative procedures being conducted by the Financial Supervisory Service to be completed by July of this year."
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