Seoul: The number of local listed firms involved in merger and acquisition (M and A) deals increased sharply from a year earlier in the first half, data showed Wednesday. A total of 77 listed firms here were involved in either a completed or an ongoing M and A deal as of end-June, according to the data from the Korea Securities Depository.
According to Yonhap News Agency, the figure marks a 19 percent increase from the same period last year. By market, 18 firms were listed on the country's main bourse, the KOSPI, while the remaining 59 were companies listed on the secondary KOSDAQ market.
Mergers accounted for the majority of M and A activities at 66 cases. The total amount of appraisal rights payment, or payments made to buy out the stake held by shareholders who disagree with an M and A decision, dropped 57 percent on-year to 31.6 billion won (US$22.9 million), the KSD said.