Commodities
MBK Raises Korea Zinc Bid to Value Company at $11.6 Billion
- Korea Zinc rises on Thursday, but trading below MBK’s offer
- MBK, Young Poong up bid by about 14% ahead of Oct. 4 deadline
A Korea Zinc smelting factory at sunrise in Ulsan.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
MBK Partners sweetened its unsolicited bid for control of Korea Zinc Co. by about 14%, pushing the stock to a record and valuing the world’s biggest zinc smelter at 15.5 trillion won ($11.6 billion).
The private equity fund is now offering 750,000 won per share, compared with the previous offer of 660,000 won each, it said in a statement Thursday.