As you might have read previously, Nexon is in discussions internally about selling itself to the highest bidder. This is mostly due to the biggest shareholder possibly looking to cash out and leave the company. While China tech giants such as Tencent and NetEase easily have the billions to launch a takeover, earlier today the first Korean company threw its hat into the mix. Kakao, more well-known for its chat app Kakao Talk and games subsidiary Kakao Games, announced it is “considering” the acquisition through various sources.
Kakao also stressed that no formal discussions have taken place. It has a market cap of USD 7.6 billion, while Nexon has a market cap of USD 13.4 billion. In comparison, potential new owner Tencent Holdings has a market cap of USD 411.25 billion. Any sellout deal to a foreign entity will also be in scrutiny of the South Korea government, which has previously bulked at the prospect of one of its prized tech companies being sold to overseas owners.