Hyundai Mobis shares rose 2.4 per cent, the most more since April 4, to close at 237,000 won in Seoul, while the benchmark Kospi index rose 0.6 per cent. Chung said he wasn’t fazed by Elliott. “That’s the way they do business,” Chung said. “We will listen carefully and if there are proposals that bring…
Hyundai Mobis shares rose 2.4 per cent, the most more since April 4, to close at 237,000 won in Seoul, while the benchmark Kospi index rose 0.6 per cent. Chung said he wasn’t fazed by Elliott. “That’s the way they do business,” Chung said. “We will listen carefully and if there are proposals that bring…
Seoul US activist fund Elliott Management said it will vote against Hyundai Motor Groups (Hyundai) restructuring plan and urged other shareholders to reject the proposal to reform South Koreas second-largest conglomerate. A Hyundai executive responded that the proposed arrangements to simplify the vehicle makers complex ownership structure would not change and promised higher returns for…
WILMINGTON, Del., May 9 (Reuters) – The founder of corporate restructuring firm AlixPartners sued competitor McKinsey & Co on Wednesday, claiming the strategic consulting giant ran a criminal enterprise that concealed potential conflicts of interest from U.S. bankruptcy judges in order to land valuable advisory assignments. McKinsey and its affiliates committed bankruptcy fraud, mail fraud,…
May 9 (Reuters) – Greif Nigeria PLC: * IN CONSULTATION WITH LARGER GREIF SUB-SAHARA AFRICA AND EMEA MANAGEMENT TEAM HAVE APPROVED TOTAL BUSINESS RESTRUCTURING PLAN FOR LOCAL OPERATION * STRATEGIC CONSOLIDATION OF ALL VOLUMES AND PRODUCTION CAPACITY IN APAPA, LAGOS FACTORY SITE ONLY AND SUPPLY QUALITY PRODUCTS OUT OF FACTORY TO CUSTOMERS IN NIGERIA *…
U.S. initial public offerings have the seismic changes in the insurance industry to thank for 2018s biggest share sale. Axa Equitable Holdings Inc. aims to raise as much as $3.7 billion in its IPO, which is expected to price after the market closes on Wednesday. The business is made up of the U.S. operations of…
Theres a massive shake-up afoot at Facebook. The social networking giant is undergoing a huge restructuring, switching up its executives and rearranging the company into three core product areas. Recode has a big report out with lots of the key details, and some Facebook execs are sharing info on Twitter. A Facebook spokesperson confirmed the…
Facebook is shaking up its org structure. The company will now be comprised of three key areas: New platforms and infrastructure, Central product services, and Family of apps. Facebook is also researching future applications of blockchain technology, with a small unit of employees dedicated to the tech. Theres a massive shake-up afoot at Facebook. The…
Korean companies such as Kumho Tire, STX Offshore & Shipbuilding and GM Korea have wrapped up restructuring to walk the road to recovery. Unlike in the past, when restructuring was mostly about large-scale layoffs, these companies showed that labor and management could work together to create a new framework for corporate restructuring. Here is Lee…
FILE PHOTO: A general view of the lobby outside of the Carlyle Group offices in Washington Thomson Reuters By Sumeet Chatterjee and Kane Wu HONG KONG (Reuters) – Carlyle Group is set to close its biggest-ever Asia private equity fund at $6.5 billion, people with direct knowledge of matter said, in a deal that adds…