Asia
Hanwha Aerospace Abandons Plan to Take Over Poongsan's Ammunition Business
Hanwha Aerospace (KRX:012450) suspended the review of acquiring the defense unit of Poongsan (KRX:103140), according to a Thursday filing with the Korea Exchange.Shares of Hanwha Aerospace rose nearly 4% at market close while those of Poongsan declined over 3%.The South Korean defense company did not specify the reason for the decision.
KRX:012450KRX:103140
