Samyang Corporation completed the acquisition of Samyang Genex Corporation from Samyang Holdings Corporation and others.
The merger can be cancelled where Samyang Corporation does not get an approval from shareholders of more than 1/3 of total issued shares and 2/3 of voting rights in the extraordinary meeting of shareholders. The expected date of shareholders' meeting is November 13, 2015. The creditors can submit their objections from November 16, 2015 to December 16, 2015. The Board of Directors passed a resolution for the transaction on September 11, 2015. As on November 13, 2015, the transaction was approved by the shareholders of Samyang Genex Corporation. The transaction is expected to close on January 1, 2016.
Samyang Corporation (KOSE:A145990) completed the acquisition of Samyang Genex Corporation (KOSE:A003940) from Samyang Holdings Corporation (KOSE:A000070) and others on January 1, 2016.