Nexon founder Kim Jung-ju has reportedly canceled his plans to sell a 98.64% controlling stake in the company due to low bids and few sound buyers.
Bain Capital and Kakao Games dropped out of the bidding after offering low bids. Netmarble, joined by Tencent in a move to keep Nexon in South Korea, did not manage to convince Jung-ju that it could finance such a purchase.
Other companies that were reportedly preparing bids at some point in the process included EA, Amazon, and Comcast.
Jung-ju's $9 billion controlling share in Nexon originally went up for sale in January.