Korea Zinc to make $2 billion share tender offer in bid to fend off takeover

Quick Summary:

SEOUL :Korea Zinc said it was making a public tender offer to buy an up to 16 per cent stake in the company for 2.7 trillion won ($2.0 billion), seeking to fend off what it has termed as a hostile takeover attempt on the world's biggest refined zinc producer.

Minority shareholders, who own about 27 per cent of the Korea Zinc, will likely play a crucial role in the outcome of the takeover battle.

That was in response to the offer by rival MBK to buy shares in the pump and valve maker, which holds a minor stake in Korea Zinc.

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Article Details

Category: EconomyBusiness

Markets: SingaporeNorth KoreaSouth Korea

Topics: Offer Shares Billion Young Control Cent Tender Korea Trillion Poong Zinc

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-02 @ 08:37:04 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 585 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 22848334

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Official Website: channelnewsasia.com

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