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Hyundai Merchant Rises as It’s Said to Assess Hanjin Assets

  • Company said to have started looking at some ships to acquire
  • Lenders to Hanjin ships said to approach Hyundai Merchant
Updated on

Hyundai Merchant Marine Co., South Korea’s second-largest container line, surged in Seoul trading after the company was said to be looking at some assets of troubled rival Hanjin Shipping Co. for a possible acquisition.

The stock jumped 6 percent to close at 8,700 won, the highest level since Sept. 8, helping to trim the decline this year to 70 percent. Hanjin shares fell 12 percent to 955 won.