SK Innovation Shares Soar Most Since 2021 on Merger Speculation

Shares of SK Innovation Co. topped gains on the regional MSCI Asia Pacific Index amid speculation the South Korean energy company may merge with a private affiliate to strengthen competitiveness.

The stock rose as much as 20% Thursday, its biggest jump since January 2021, after local newspaper Chosun Ilbo reported that SK Group will meet with various executives to approve the deal next week. SK Innovation confirmed in a statement Thursday that it is “considering various strategic plans, including mergers,” but added that no decision had been made yet.

The possible merger with SK E&S Co. - a unit that ...