SM Entertainment headquarters in Seongdong District, eastern Seoul, on Sunday. [YONHAP] HYBE is walking away from the battle for SM Entertainment after an 11th hour meeting on Friday with representatives from the target and the rival for the asset. In the grand bargain, the agency will get at very least some sort of "platform" deal with SM Entertainment. 'HYBE is halting the acquisition process for SM Entertainment from March 12,' the company said in a statement. The intense competition has raised the acquisition price 'above the appropriate range,' and the continued battle could 'further stir up the competition.

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