Western Digital Q4 Earnings Beat Estimates as FY2027 Outlook Tops Expectations 
Berkshire Hathaway Cash Falls as Abel Boosts Stock Buybacks 
China Trade Surplus Beats Forecasts in July as Exports Stay Strong 
US Stock Futures Rise as Markets Await July Payrolls Data 
Asian Stocks Slide as Semiconductor Selloff Weighs on South Korea and Japan 
Wall Street Ends Mixed as Dow Hits Record Despite Tech Weakness 
DBS Raises 2025 Outlook After Record Q2 Profit Driven by Wealth Management 
Qantas Shares Climb as Long-Haul Pilot Deal Eases Strike Concerns 
China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade 
US Stock Futures Hold Steady as Iran Hormuz Deal and Earnings Shape Market Sentiment 
Trump Unveils $3 Billion U.S. Critical Minerals Push 
Singapore Says One-Third of U.S. Exports Hit by New 12.5% Tariff 
Alphabet Stock Slides as Google AI Pioneer Jeff Dean Exits to Launch Discovery Loop 
Mercedes-Benz Stock Offers Deep-Value Potential as Citi Sees Recovery Catalysts 
SoftBank Q1 Profit Beats Forecast as Intel Rally and OpenAI Investments Boost Returns 
Asian Stocks Cautious Ahead of US Jobs Data as Oil Rises 
Novo Nordisk Raises 2025 Outlook Despite Wegovy Pill Miss and CagriSema Setback 
SsangYong Motor has been put up for sale after struggling to keep the business going. It did not receive many bids at first, but now, many companies have entered the race for its acquisition.
It was recently revealed that Samra Midas or SM Group had joined the bidding at the last minute. The South Korean leading construction firm said that it would like to buy the local vehicle company as it should remain under the management of a Korean group.
“SsangYong Motor is a beloved brand for Koreans,” a senior SM official told the Maeil Business Newspaper via Pulse News two weeks ago. “It should not be sold to a foreign capital.”
Industry observers are predicting that Edison Motors and SM Group will remain as the final candidates to acquire SsangYong Motor, and between the two, The Korea Times reported that the carmaker is hoping the new ownership would be awarded to SM Group. This is because it believes SM is the best group that can help the company recover from its financial crisis.
"SM has a strong financial structure and detailed financing plans,” a senior official said. “Therefore, SsangYong employees are backing SM's participation. In terms of chemical combination, SM's acquisition of SsangYong Motor, if it actually happens, will be beneficial to both as SM aims to expand its profile in automotive parts."
At any rate, it was mentioned that seven other firms have forwarded their letters of intent (LOI) to take a majority stake in the embattled Korea-based automobile manufacturer. Ernst & Young Han Young, an auditing firm, is managing SsangYong Motor’s sales process.
According to Yonhap News Agency, the Korea Corporate Governance Improvement (KCGI) fund formed a consortium with Edison Motors, Keystone Private Equity, and two other companies to buy SsangYong, and this is expected to go against SM Group in the acquisition race. The consortium, if it wins the bid, will transform SsangYong into an electric vehicle-focused vehicle-making company.
While SsangYong thinks SM should be its next owner, Edison Motor chairman, Kang Young Kwon, believes that his company is the best firm that can help SsangYong get back on track again. This is because Edison has the expertise in manufacturing electric commercial vehicles that SsangYong could also make later on and restart its business.
