Many potential bidders are planning to make a bid for Pan Ocean Co., Ltd. (KOSE:A028670), reported The Korea Economic Daily citing sources. According to the report, HARIM Co., Ltd. (KOSDAQ:A136480) will plunge into a bidding war to acquire Pan Ocean. According to investment banking sources on October 22, 2014, Harim has selected Deloitte Anjin LLC as an accounting advisor.

Other contenders for the deal include Hyundai Motor Company (KOSE:A005380), POSCO (KOSE:A005490), Korea Electric Power Corp. (KOSE:A015760), CJ Corporation (KOSE:A001040), SK Holdings Co., Ltd. (KOSE:A003600), Daelim Industrial Co., Ltd. (KOSE:A000210), Polaris Shipping Co. Ltd., JKL Partners and Sinokor Merchant Marine Co., Ltd. The price tag for the deal is estimated at KRW 800 billion to KRW 1 trillion.