Deals
SK to Combine Units as Chey Tightens Grip From Behind Bars
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SK Group will combine two units as billionaire Chey Tae Won cements control of South Korea’s third-largest private conglomerate from a prison cell, where he’s serving a sentence for embezzlement. Shares fell.
SK C&C Ltd., a provider of information-technology services, will acquire SK Holdings Co. in an all-stock deal, according to a filing Monday. The combined company, spanning businesses from energy to semiconductors, will have total assets of about 13.2 trillion won ($12.2 billion), they said in an e-mailed statement.