Young Poong Corp. and private equity firm MBK Partners have offered 830,000 won ($612.30) per share for up to 14.61 percent of Korea Zinc's stock. The offer, which has been raised twice, concludes at 3:30 p.m. local time.
In response, Korea Zinc Chairman Choi Yun-beom raised his counteroffer to 890,000 won per share on Friday, supported by U.S. investment firm Bain Capital.
Analysts expect Young Poong and MBK to fall short of their target and potentially acquire only a single-digit percentage stake. The outcome remains uncertain due to tax implications for investors and pending legal challenges.
Korea Zinc will continue its public tender offer until Oct. 23, aiming to acquire up to 17.5 percent of the total shares. Bain Capital aims to separately purchase an additional 2.5 percent.
Analysts expect disputes to continue until the regular shareholder meeting season in March next year.
