Second heavy hitting Korean M&A in as many days

Why is Doosan Heavy prepared to pay so much for Daewoo Heavy?

If Korean MA were a game of cricket, a couple of sixes would have been hit in the first 'over'. StanChart's $3.3 billion acquisition of KFB on Monday, was followed yesterday by Doosan Heavy's $1.8 billion announced acquisition of 51% of Daewoo Heavy at a 220% premium to its current stock price. Barely 10 days into 2005, Korea's MA volume has already broke through the $5 billion mark.

To be fair, the Daewoo...

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