Korea Zinc, the world's largest zinc smelter, is embarking on a tender offer to buy back shares worth up to 3.1 trillion won ($2.25 billion) in response to a management dispute with its largest shareholder, Young Poong, and private equity firm MBK Partners. The company's Chairman, Choi Yun-beom, announced the decision to initiate the tender offer during a press conference in Seoul, stating that the move is aimed at protecting the company from what he described as hostile actions by the Young Poong-MBK alliance. Korea Zinc plans to repurchase up to 15.5 percent of its shares at 830,000 won per share, with US-based private equity fund Bain Capital also participating in the offer. The tender offer by Korea Zinc, priced at a premium compared to the bid made by Young Poong and MBK Partners, is seen as a strategic move to solidify its position in the ongoing dispute. Despite a court ruling dismissing an injunction to block Korea Zinc's share repurchase, the coalition has filed another injunction to prevent what they perceive as an overpriced buyback. The market price of Korea Zinc shares has surged amid the conflict, with tensions escalating as the parties involved seek to assert their interests in the company.