Biz lobby calls for steps to fend off 'destructive' takeovers
Seoul - Yonhap
South Korea's largest business group urged the government Wednesday to introduce a poison pill scheme and defensive measures against "destructive" takeovers of local firms by foreign funds. In a report, the Federation of Korean Industries said South Korea has faced hostile mergers and acquisitions (M&As) since a related law was loosened following the 1997-98 Asian financial crisis in a bid to encourage restructuring.
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