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Hanjin Shipping shares jump on Maersk’s takeover speculations

[THE INVESTOR] Hanjin Shipping’s stocks soared almost 20 percent on Sept. 27, amid speculation that Danish container carrier Maersk might acquire the ailing shipper.

Hanjin Shipping’s stock closed at 1,135 won (US$1.03), up 18.85 percent from the previous trading day. During the day, Hanjin’s share price surged as much as 28.8 percent.

Earlier in the day, David Kerstens, a transport analyst from investment bank Jefferies International, told Bloomberg that Maersk will likely takeover Hanjin Shipping, as well as Hyundai Merchant Marine, the country’s second largest shipper. 

“Maersk, as the market leader, will definitely participate in the consolidation -- they will have to,” he was quoted as saying. “The takeover options for Maersk are fairly limited, as most container lines are already tied up in alliances or are family or government-controlled. The most likely scenario is that Maersk would take over the assets of Hyundai and Hanjin.”

Hanjin Shipping ranked No.1 in terms of trading volume with a combined 180 million shares exchanged hands during the day -- 4.1 times more than the previous day. The trading volume was worth 209 billion won, the second highest after market bellwether Samsung Electronics.

By Ahn Sung-mi (