Korea Zinc "Youngpoong, MBK to withdraw tender offer"

When Youngpoong and MBK Partners said they would no longer raise the tender offer price of Korea Zinc and Youngpoong Precision, Korea Zinc countered that it should not maintain the hostile tender offer but legally withdraw it before then.

In a statement, Korea Zinc said MBK should withdraw its tender offer before the deadline of 14 days if it truly wants to think about the value of the Korea Zinc company and correct the market turmoil it has caused itself.

MBK then said it was an incentive message to respond to the tender offer by the 14th because Korea Zinc's tender offer could be blocked, accusing it of disturbing the market order, such as adjusting the market price.

However, Korea Zinc has repeatedly confirmed its willingness to complete the acquisition of treasury stocks and the retirement of treasury stocks, without mentioning whether it will raise the tender price further.