Hyundai Heavy bids again for trading firm Hyundai Corp.

SEOUL, Sept. 25 (Yonhap) -- A consortium led by Hyundai Heavy Industries Co., the
world's largest shipbuilder, has placed another formal offer to acquire trading
company Hyundai Corp., company officials and creditors said Friday.
In May, Hyundai Heavy had submitted its bid to acquire Hyundai Corp., but the
auction failed due to price differences.
Analysts say the purchase price to buy 50 percent plus one share of Hyundai Corp.
may be set at about 250 billion won (US$210.9 million).
Another bidder, STX Corp., dropped its offer because Hyundai Heavy -- an affiliate
of Hyundai Corp. under then giant Hyundai Group before it was split in 1999 --
submitted the bid, according to creditors.
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