MBK says not to raise tender offer price for Korea Zinc amid management battle
Private equity firm MBK Partners said Wednesday that it will not further raise the tender offer price for Korea Zinc Inc. amid intensifying competition for management control. MBK and Young Poong Corp. recently raised their tender offer price for Korea Zinc to 830,000 won ($617) and for Young Poong Precision to 30,000 won, as they aim to gain a controlling stake in the world's top zinc smelter. Young Poong Precision holds a 1.85 percent stake in Korea Zinc. "We cannot stand by as the c
Oct. 9, 2024