Korea‌ Zinc will hold its first press conference ⁢since MBK Partners and​ Youngpoong’s ‍surprise tender offer announcement on the‍ 24th.

Attention is given to what plan Korea Zinc, which has set‌ about trying to secure a white knight to block MBK Partners’ tender offer, ‌will propose.

According to the industry ‌on the 22nd, Korea Zinc will hold a press conference on the morning of the 24th to‌ reveal its position on ⁤the tender offer ‌arising from the management rights‍ dispute with MBK Partners and‍ Youngpoong.

Since the⁤ 13th, MBK Partners has been​ conducting a public ⁢offer to buy a minimum of 1,445,036 shares (6.98%) of Korea Zinc shares and a maximum of 3,024,881 shares (14.61%) at 660,000 won per share.

MBK Partners ⁢is known to invest up to 2.1332 trillion⁢ won in the tender ‌offer of Korea Zinc and Youngpoong Precision. This is the largest domestic tender ​offer ever.

Lee Je-jung to Lead the Press Conference

It is said that the press conference ⁢to be held on the 24th will be led‌ by ​Vice Chairman Lee Je-jung, who is a‌ close ⁣member of Korea Zinc Chairman Choi Yun-beom. Vice Chairman Lee, who joined ⁣Korea ​Zinc in 1985, is⁢ considered the person who led the company’s growth over the past 40 years.

Vice Chairman Lee knows better than anyone else‍ the history of ⁣joint management between Korea ‌Zinc and Youngpoong and the recent ⁣conflict over management rights, and is expected to refute the ‌attacks of MBK‌ Partners and Youngpoong point by point.

Will Korea Zinc Secure a White Knight?

In particular, the business world is paying ​attention to see if Korea Zinc will make any specific comments at the press conference on​ this day, such as securing a white knight to block the tender offer of MBK Partners and ⁤Youngpoong.

Chairman Choi has already ⁣announced a counterattack against the attacks of MBK Partners and Youngpoong.

On the 18th, Chairman Choi⁤ announced the ‘dissolution of special relationship’ with Youngpoong ‍Jang’s family, and on the 19th, he sent a ‌letter to executives and employees saying, “We are confident that we will win this battle and do our best. stop MBK’s tender offer.”

Hanwha Group to Act as a White Knight?

According to the business world, it is known that Chairman Choi recently met with Kim ⁤Dong-kwan,‌ Vice Chairman of Hanwha Group,⁤ a major shareholder of the company, regarding the management rights dispute.

Regarding⁤ this, the ⁢business community interprets that the‌ Hanwha Group,‍ which has established a ​close cooperation system ⁤with Korea Zinc in the fields of hydrogen​ and renewable energy, which is a new business at the group level, has confirmed its policy to‍ act as ‍a ‘white knight’ by helping Korea Zinc ​in this management dispute.

The market classifies the ⁤shares (18.4%)‍ of large corporations such as Hanwha,‌ Hyundai ​Motors, and LG‌ Chemical as friendly forces (white knights) of the Choi family. There​ is an​ open possibility that these big companies are directly or indirectly supporting Chairman ⁤Choi.

MBK Partners’ Tender Offer Price to be Decided on 24th

Coincidentally, the ⁤24th, when Korea Zinc holds a press⁤ conference, is the last day MBK Partners and Youngpoong have to decide ⁣whether to raise the tender offer price,⁣ so ⁣it has until even more attention from the industry.

Under ⁣the Capital Markets Act, if there are more than ⁢10 days left until the end of the tender offer, the tender offer price can be raised without extending the tender offer period.

If MBK Partners and Youngpoong cannot decide whether to ⁣increase the tender offer price by this day and change it later, the tender offer period must be extended by an additional 10 days.

Currently, the stock price of Korea Zinc has increased to the won range of 700,000, which is higher than the tender ‌offer price of 660,000 won offered ​by MBK and Youngpoong.

In this ‌situation, when the tender ​offer ends on ⁣the ​4th of next​ month, MBK and Youngpoong’s attack against Korea Zinc is very likely to end in failure.

Accordingly, the industry sees the 24th as the ‘first inflection point’⁢ when MBK Partners and ​Youngpoong announce their views on the​ tender offer⁢ price.

An industry ⁢official said, “Given the rise in Korea Zinc’s stock price, the decision to raise the tender offer⁢ price will not be easy,” adding, “However, for the success of the tender offer, and according to content Korea Zinc’s press conference on the 24th (MBK and Youngpoong) ) He predicted, “The direction of the response may change.”