SCMP Plunges as Acquisition Talks Dash Buyout Hopes

SCMP Group Ltd., the newspaper company that surged yesterday on buyout speculation, plunged the most in more than a year after saying it was in talks to make an acquisition itself.

The publisher of the South China Morning Post dropped 7.4 percent in Hong Kong trading, the most since September 2011, to close at HK$1.99. The Hong Kong-based company has still gained 14 percent this week.