The months-long dispute among the owner family of Hankook & Company ended in a victory for current Chairman Cho Hyun-bum, the second son of Honorary Chairman Cho Yang-rae, according to market watchers, Tuesday.
Shares of Hankook & Company lost over 25 percent in value Friday, essentially ending a feud over management control between Chairman Cho Hyun-bum and advisor Cho Hyun-shick.
Private equity firm MBK Partners has ruled out the possibility of raising the price of its public tender offer for Hankook & Company, the holding company of Korea s top tiremaker, a source close to the matter said Monday.
Hankook Tire is mired in yet another sibling feud, after the eldest son of the firm’s honorary chairman made moves to retake management control by partnering with a local private e.
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