Reported about 1 month ago
Korea Zinc Co. confronts a significant challenge as the deadline for a chairman's buyback proposal looms, aimed at countering a $12.5 billion takeover bid. Tensions have escalated among major shareholders, particularly between the Choi family and Young Poong Corp., the latter backed by MBK Partners. Choi's buyback offer, which is priced higher than the market rate, seeks to consolidate control despite criticisms from MBK about potential financial strain. The outcome of this conflict is crucial for Korea Zinc's role in the global zinc market amidst increasing competition with China's production capabilities.
Source: YAHOO