Samyang Corporation (KOSE:A145990) made an offer to acquire Samyang Milmax Corporation from Samyang Holdings Corporation and other shareholders for approximately KRW 280 billion in stock on August 12, 2014. Under the terms of the deal, approximately 1.21 million shares will be issued at an exchange ratio of 0.27 Samyang Corporation share for every 1 Samyang Milmax share. Samyang Milmax has total assets of KRW 46.27 billion.

Shareholders of Samyang Milmax can submit the shares under the offer from September 30, 2014 to October 31, 2014. The Board of Directors of Samyang Corporation passed a resolution regarding the purchase on August 12, 2014. The scheduled merger date is November 1, 2014.

As of September 18, 2014, the exchange ratio was changed to 1:0.2622014. As of September 29, 2014, the transaction was approved by shareholder's meeting of Samyang Corporation. PricewaterhouseCoopers acted as financial advisor to Samyang Corporation on the deal.