Korea Zinc shares hit record high on last trading day before $1.7 bln tender offer deadline (updated)

YoungPoong

04/10/2024 01:31

(Adds background)
       SEOUL, Oct 4 (Reuters) - Korea Zinc  010130.KS  shares
hit a record high early on Friday, their last trading day before
a deadline to accept or reject a $1.7 billion tender offer by
private equity firm MBK Partners and Young Poong  000670.KS . 
    Korea Zinc shares rose 6.3% and were trading at 758,000 won
as of 0027 GMT, above the tender offer price of 750,000 won per
share. The wider market  .KS11  was 0.1% higher.  
        Korea Zinc had announced a higher, 
    countering tender offer
     on Wednesday of 830,000 won per share, and said in a
regulatory filing on Friday it will buy shares even if the
amount fall short of a targeted stake. 
  

 (Reporting by Joyce Lee and Jihoon Lee; Editing by Christopher
Cushing, Ed Davies)
 ((joyce.lee@tr.com;))