Lotte Confectionery Co. Ltd. (KOSE:A004990) is planning to acquire Rakhat JSC (KAS:RAHT), reported Korea IT Times. The daily reported that Lotte Confectionery is in talks to acquire Rakhat.

According to investment banking sources on June 17, 2012, Lotte Confectionery has appointed Samil PricewaterhouseCoopers as the principal underwriter and Kim & Chang as the legal advisor for the takeover of Rakhat. An investment banker said, "Currently the two parties are negotiating over price and other acquisition terms and the deal will be closed by the end of July."