News Snapshot:
A US vehicle importer and eight other companies have submitted letters of intent to acquire debt-ridden SsangYong Motor, the company said on Friday. US-based Cardinal One Motors, SM Group, and Edison Motors Co confirmed they joined the race to acquire the financially troubled carmaker to expand their business portfolios. K-pop Motors Co, which mainly produces electric scooters , and pharmaceutical firm Park Seok-jeon & Co reportedly submitted LOIs. In April, they formed a strategic partnership to acquire SsangYong. The two companies could not be immediately reached for comment. SsangYong did not provide names of the nine companies citing the confidentiality...
