S. Korean Firm Faces Hostile Takeover Threat
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From Bloomberg News
U.S. investors Carl Icahn and Warren Lichtenstein threatened to start South Korea’s biggest hostile takeover after tobacco company KT&G; Corp. rejected a bid valued at $10 billion.
Icahn and Lichtenstein, New York-based hedge fund managers, said they might make a tender offer after the board of Daejeon-based KT&G; spurned their proposal Monday.
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