Fight over Korea Zinc becomes game of chicken
The fight for management control of Korea Zinc, the world’s largest zinc smelter, has escalated into a game of chicken worth over 5 trillion won ($3.7 billion). As the bidding war heats up, both Korea Zinc and its would-be controllers are at risk of falling prey to the “winner’s curse.” On Friday, the last day of the initial tender offer period, the coalition of private equity fund MBK Partners and Young Poong, the biggest shareholder of Korea Zinc, raised its offer to 83
Oct. 6, 2024