Korea Zinc attempts to fend off takeover with $1.5 billion share buyback
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 28 2024
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Should l Buy ?
Source: Reuters
Korea Zinc's Share Buyback: Korea Zinc has initiated a $1.5 billion buyback to secure 9.85% of its shares, aiming to prevent shareholders from selling to major investors Young Poong and MBK, amidst an ongoing control struggle with the Chang family.
Market Reaction and Governance Changes: Following the buyback, Korea Zinc shares surged, while MBK proposed new governance measures including director nominations and a separation of management from the board, as investor sentiment anticipates a prolonged takeover battle.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
