Benzinga
  • 2 months ago
Korea Zinc, the world’s largest zinc smelter, announced a plan to repurchase shares worth over $2 billion to counter a hostile takeover attempt by South Korean investment firm MBK Partners. The buyback aims to secure an additional 15.5% stake alongside Bain Capital’s purchase of a 2.5% stake. Korea Zinc will repurchase shares 11% higher than MBK's offer. MBK Partners is aiming for a controlling stake of nearly 47%.

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00:00It's Benzinga and here's what's on the block.
00:02Korea Zinc, the world's largest zinc smelter, announced a plan to repurchase shares worth
00:07over $2 billion to counter a hostile takeover attempt by South Korean investment firm MBK
00:13Partners.
00:14The buyback aims to secure an additional 15.5% stake alongside Bain Capital's purchase of
00:20a 2.5% stake.
00:22Korea Zinc will repurchase shares 11% higher than MBK's offer.
00:26MBK Partners is aiming for a controlling stake of nearly 47%.
00:30For all things money, visit Benzinga.com.

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