Hyundai Group fails in $4.8 bln bid for Hyundai E&C

Newswire

SEOUL, Dec 20 (Reuters) - Shareholders of Hyundai Engineering & Construction have agreed to disqualify Hyundai Group as preferred bidder in a $4.8 billion deal to buy control of the country's largest builder, leading shareholder Korea Exchange Bank said on Monday. The takeover deal for a 35 percent stake in Hyundai E&C collapsed amid doubts over Hyundai Group's financing plans of its around 5.5 trillion won offer. Hyundai E&C shareholders have also agreed to decide later ...

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