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Photo courtesy of Yonhap News |
[Alpha Biz= Ellie Kim] SEOUL, June 5 — Huons Global said it will seek to persuade shareholders over its planned merger between subsidiaries Huons and Huons Lab, following opposition from minority investors.
The company held a shareholder meeting on June 4 to explain the rationale behind the merger, emphasizing that the decision will reflect shareholder views.
Huons previously announced plans to absorb Huons Lab to strengthen its biopharmaceutical research and development capabilities. Huons Lab specializes in biologics and peptide-based drugs, including technologies that enable the conversion of intravenous antibody treatments into subcutaneous formulations.
However, some minority shareholders have raised concerns that merging the unlisted Huons Lab into Huons could dilute shareholder value at the holding company level.
Huons Global said the merger is aimed at securing long-term growth for the group and will continue efforts to gain shareholder approval ahead of an extraordinary general meeting scheduled for July 3.
Alphabiz Reporter Ellie Kim([email protected])
https://www.alphabiz.co.kr/news/view/1065611080678753
This article is based on global economic content from Alphabiz, which distributes English-language news on Korean markets and companies to international audiences.
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