Lock&Lock is showing strong performance in the early trading session following the news that global private equity firm Affinity Equity Partners will proceed with a tender offer.
As of 10:15 AM on the 18th, Lock&Lock is trading at 8,690 KRW, up 6.23% (510 KRW) from the previous trading day.
Earlier, Affinity announced that from today until the 14th of next month, over a period of 27 days, it will conduct a tender offer to purchase 13,141,112 common shares of Lock&Lock at 8,750 KRW per share. This represents 30.33% of the issued shares.
Currently, Affinity holds a 69.64% stake in Lock&Lock. Affinity plans to acquire all remaining shares through the tender offer and then proceed with delisting.
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