Whitebox’s LG campaign ramps up going into shareholder meeting

Whitebox Advisors, holding a significant equity share of the South Korean industrial conglomerate LG, has issued an open letter to its fellow shareholders informing them that it will vote “no” on a proposed spin-off of certain corporate assets, and urging them to do likewise to “protect the value of [their] investment” at a meeting planned for late March. 

The $5.5 billion hedge fund manager expressed concern that LG is selling at an “enormous price discount relative to its net asset value.” The letter acknowledged that a wide discount is typical of Korean holding companies, but . . .

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Christopher Faille

Christopher Faille has written on a variety of legal, regulatory, and financial issues for decades. He is the author of "The Decline and Fall of the Supreme Court" (1995), for example, and the coauthor, with David O'Connor, of "Basic Economic Principles" (2000). He was an early reporter with Lipper HedgeWorld and has contributed to Forbes and to the Hedge Fund Law Report.
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