CJ Group pulls out of race for McDonald's South Korea operations
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
The McDonald's logo is seen in Tbilisi, Georgia, June 8, 2016. REUTERS/David Mdzinarishvili
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
SEOUL (Reuters) - South Korean food-to-entertainment conglomerate CJ Group <001040.KS> on Tuesday said it did not enter the latest round of bidding for McDonald's Corp's (NYSE: MCD) South Korean operations.
A consortium with Maeil Dairy Industry Co Ltd <005990.KQ> and another group with KG Group and NHN Entertainment Corp <181710.KS> entered binding bids last week, M&A media Market Insight reported on Monday, citing investment banking sources.
A Maeil spokesman declined to comment. A KG Group spokesman could not be reached. A NHN spokesman said KG Group was the bidding party, and NHN is expected to only invest funds.
(Reporting by Joyce Lee)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- McDonalds (MCD) volatility increases into Q4 and outlook
- United to resume domestic flights after tech disruption
- Residents evacuated, airport closed and power cut off in Tahiti flooding
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!