Whitebox Advisors LLC: Whitebox Advisors Sends Letter to the Board of Directors of LG Corporation
Asserts LG s Recently-Announced Proposed Spin-Off Would Fail to Create Value for Long-Suffering Minority Shareholders
Believes the Board Should Focus on Narrowing LG s Staggering Trading Price Discount, Which is Currently 69% Relative to Net Asset Value
Encourages the Board to Abandon Anti-Shareholder Maneuvers in Favor of Improving LG s Corporate Governance and Implementing the Company s Long-Delayed Capital Management Plan
Whitebox Advisors LLC today sent the below letter to LG Corporation s Board of Directors.
14 December 2020
Koo, Kwang Mo
Dear Members of the Board of Directors,
As you are aware, Whitebox Advisors LLC (together with its affiliates, Whitebox or we ) owns a significant stake in LG Corporation ( LG or the Company ). We are a long-term shareholder that has repeatedly sought to engage with the Board of Directors (the Board ) and representatives of the ma