• Naver Monetary plans $10.3 billion stock-swap acquisition of Upbit operator Dunum
• Shareholders are scheduled to vote on Might 22, 2026. The deal requires South Korean regulatory approval.
• The trade ratio can be set at 1:2.54, however dissenting shareholders can request a $117 buyout.

Naver Monetary, the monetary companies arm of South Korean expertise large Naver, stated it plans to amass Dunum in a deal that doubtless will not contain any money trade. Dunamu is a expertise firm that operates Upbit, the nation’s largest cryptocurrency trade.

TradingView, citing a regulatory submitting, reported that Naver Monetary is contemplating paying 15.1 trillion gained ($10.3 billion) for the acquisition with a share swap. To finish the transaction, Naver Monetary will difficulty and vest 87.56 million new shares to present Dunamu shareholders.

Dunamu will then turn into a completely owned subsidiary of Naver Monetary, and Dunamu holders will turn into house owners of Naver Monetary shares.

Associated: Naver acquires Upbit working firm Dunam, rising competitors with Kakao in South Korea

$10.3 Billion Valuation: Contained in the Inventory Change

To elaborate additional, each firms used discounted money stream (DCF) valuations to find out the worth of every firm.

The company worth ratio of each firms was 1:3.064569 (Dunam: Naver Monetary), and the ultimate trade ratio after adjusting the variety of excellent shares of each firms was 1:2.5422618. Because of this for each share of Dunamu, shareholders will obtain roughly 2.54 shares of Naver Monetary.

Nevertheless, the deal has not but been finalized. The deal have to be voted on by each events and accredited by South Korean regulators. Each votes are scheduled to happen on Might 22, 2026, with the share trade date set for June 30.

The $814 million “poison capsule”: shareholder rights to object

Shareholders who don’t comply with the plan can request a buyout at $117 per share. If too many shareholders request an identical association (greater than $814 million in valuation rights), the deal might be canceled and despatched again to negotiation stage.

If shareholders vote in favor of the deal, they might want to get hold of regulatory approval. The chance of market domination is actual, as this acquisition includes a significant expertise firm and a pacesetter in a cryptocurrency trade. The settlement subsequently requires approval from South Korea’s Truthful Commerce Fee (FTC).

As well as, the transaction could lead to a change in possession and, subsequently, lead to reporting obligations underneath the Credit score Use and Safety Act.

Regulatory approvals should not computerized and delays and cancellations are all the time attainable.

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