6 Sep 2011
ERJ staff report (DS)
Seoul, Hankook Tire has pulled out of the bidding process for Indonesian tyre maker, Multistrada. In a stock exchange filing the company said it has dropped plans to buy the company as the shareholders in Multistrada did not find the offer attractive.
Local press reports suggested that the company was bidding around $200 million to buy Multistrada.
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Stock exchange filing from Hankook (Korean language)
text of above statement auto-translated into English
Hankook Tire's Bid for Multistrada Falls Flat from Jakarta Globe (Indonesia)
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