Hanwha-Poongsan W1.5tr ammunition deal falls apart

Hanwha Aerospace’s attempt to acquire Poongsan Corporation's ammunition unit has fallen through, likely due to a pricing gap, according to industry sources. Hanwha Aerospace said Thursday it had “reviewed various business opportunities, including Poongsan’s ammunition division, but decided to halt its acquisition review,” after Poongsan announced it was no longer pursuing a sale. The move follows reports last week that Hanwha had submitted a final bid for the unit. Market estimates had valued a

By The Korea Herald