SK Broadband Co., Ltd. signed a memorandum of understanding to acquire t-broad Holdings, Tbroad Dongdaemun Cable Networks and Korea Digital Cable Media Center from Taekwang Industrial Co., Ltd. (KOSE:A003240), IMM Private Equity, Inc. and others on February 21, 2019. On April 26, 2019, SK Broadband Co., Ltd. signed a merger contract to acquire t-broad Holdings, Tbroad Dongdaemun Cable Networks and Korea Digital Cable Media Center from Taekwang Industrial Co., Ltd. (KOSE:A003240), IMM Private Equity, Inc. and others. The collective consideration comprises issuance of 103 million shares of SK Broadband Co., Ltd. The shares of SK Broadband, Tbroad, Tbroad Dongdaemun, KDMC are exchanged at the ratios of 1:1.6860091:2.2095367:0.1693414. Under the transaction, the merged entity will have SK Broadband's parent company, SK Telecom Co. Ltd. (KOSE:A017670), as its largest shareholder with a 74.4% stake, followed by Taekwang Industrial with a 16.8% ownership. Meanwhile, financial investors will get an 8% stake, while treasury stock and others will hold 0.8% of the merged entity. In a related transaction, SK Telecom Co.,Ltd signed a contract to acquire 55% stake in Tbroad Nowon Broadcasting Co., Ltd. from t-broad Holdings Co.,Ltd. for KRW 10.4 billion on April 26, 2019. As on January 28, 2020, SK Broadband Co., Ltd. signed an amendment to acquire t-broad Holdings, Tbroad Dongdaemun Cable Networks and Korea Digital Cable Media Center from Taekwang Industrial Co., Ltd. (KOSE:A003240), IMM Private Equity, Inc. and others. The collective consideration comprises issuance of 103.004 million shares of SK Broadband Co., Ltd. The shares of SK Broadband, Tbroad, Tbroad Dongdaemun, KDMC are exchanged at the ratios of 1 : 1.6852219 : 2.2092276 : 0.1691069. The transaction was resolved the Board of directors of SK Broadband on April 26, 2019. On November 10, 2019, Fair Trade Commission approved the transaction to acquire t-broad. On December 30, 2019, ICT ministry approved the transaction. On January 22, 2020 Korea Communications Commission and Ministry of Science approved the transaction. The general meeting of shareholders is scheduled on November 29, 2019. The transaction is expected to close on January 1, 2020. As on October 16, 2019, the transaction is expected to complete on March 1, 2020. As of December 13, 2019, the transaction is expected to be completed by April 1, 2020. As of January 23, 2020, Shareholders' Meeting date is changed to March 26, 2020 and the transaction is expected to be completed by April 30, 2020. As of April 28, 2020, SK Broadband Co., Ltd. completed the acquisition of t-broad Holdings for approximately KRW 140 million. KPMG International Cooperative acted as due diligence provider and Samjong KPMG Advisory Inc. financial advisor to t-broad. Citigroup Inc. (NYSE:C) acted as a financial advisor to SK Broadband Co., Ltd. Credit Suisse Group AG acted as financial advisor to SK Broadband Co., Ltd.