CJ O Shopping Co., Ltd (KOSDAQ:A035760) signed a contract to acquire CJ E&M Corporation (KOSDAQ:A130960) for KRW 3.7 trillion on January 17, 2018. The merger ratio between CJ O Shopping Co., Ltd and CJ E&M Corporation is 1:0.4104397. The scheduled payment date is June 29, 2018.

After the merger, the surviving corporation is CJ O Shopping Co., Ltd and CJ E&M Corporation will dissolve. The transaction has been resolved by the Board of Directors of CJ O Shopping Co., Ltd on January 17, 2018. The general meeting of shareholders of CJ O Shopping Co., Ltd will take place on June 29, 2018.

On May 29, 2018, the transaction is approved by shareholders of CJ O Shopping Co., Ltd. The transaction is expected to close on August 1, 2018. As of April 9, 2018, amendments have been made to the schedule of the transaction, the general meeting of shareholders of CJ O Shopping Co., Ltd will now take place on May 29, 2018 and the transaction is now expected to close on July 1, 2018.