Macquarie Acquires Gabia Control for 48,000 Won Per Share, Tender Offer Hinges on Sept. 17 Deadline

Gabia7.83%
According to E-Daily, on July 21, Macquarie Asset Management's special purpose company acquired a 24.4% stake in IT infrastructure company Gabia from its largest shareholder at 48,000 won per share. Macquarie simultaneously launched a tender offer for the remaining 73.1% (9.805 million shares) at the same price through September 17, with a total deal value of 627.5 billion won. The tender offer's success requires Macquarie to secure at least 24.3% of total issued shares; failure to reach this minimum threshold voids both the tender and the existing stake purchase agreement. Gabia's third-largest shareholder, Align Partners Asset Management (holding 14.3%), has publicly refused to participate, citing undervaluation relative to intrinsic value. However, the second-largest shareholder Miri Capital (24.2%) and retail shareholders (34.6%) may participate, and market analysts assess that Align's non-participation alone is unlikely to prevent the minimum threshold from being met.
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