JYP Says NEXROC Takeover Email Was Blocked as 'Blatant Spam'

JYP Entertainment has once again denied receiving an acquisition proposal from a Japan-linked investment group amid reports that the group is seeking to acquire a stake in the K-POP agency.

In an official statement released on Oct. 29, JYP said, "We have not officially received or reviewed any valid proposal regarding the recently reported acquisition offer."

Regarding an email that NEXROC claimed to have sent, JYP said, "Under our security policy, it was classified as 'blatant spam,' as it failed to meet sender reliability standards and fell into a category for which we cannot verify receipt records." The company explained that the email was automatically blocked before reaching its systems and that it had confirmed this with its email provider service.

Earlier on Oct. 29, the Japan-linked investment group The NEXROC Group claimed in statements to the media that it had sent JYP an email outlining its plans for future acquisition talks. The group also claimed to have contacted both JYP and the Financial Supervisory Service (FSS), South Korea's financial regulator, to explain the matter. However, the FSS also denied having had any contact with NEXROC.

On Oct. 26, NEXROC and SVCV Inc. announced plans to acquire a stake in JYP. The two companies said they were considering a tender offer for between 25% and 50% of JYP's issued shares, aiming to launch the offer on Nov. 20.

JYP denied receiving any acquisition proposal when the plan was first reported. After NEXROC later claimed that it had notified the company of its negotiation plans in advance, JYP issued an additional statement on Oct. 29 to refute the claim.

Jiwon Kim, won@K-POPit,com