Exclusive-MBK, Young Poong to call for Korea Zinc shareholder meeting in push to revamp board

Quick Summary:

SEOUL : Korea Zinc's top shareholder Young Poong and private equity fund MBK Partners plan to call for an extraordinary shareholder meeting this year seeking approval to appoint their board nominees, a top executive at the fund said, escalating a takeover battle.

Shares in Korea Zinc skyrocketed 30 per cent on Thursday to a record high, as investors are bracing for a lengthy takeover battle for the company that could involve on-market purchases by the rival parties.

If the request is rejected by Korea Zinc's board, MBK plans to seek a court approval to press ahead and the proposed meeting could be delayed to January or February, Kim said.

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Article Details

Category: EconomyBusiness

Markets: SingaporeSouth Korea

Topics: Zinc Directors Korea Board Cent Young Choi Approval Management Poong Been

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-25 @ 07:42:47 (3 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 678 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23231409

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