Whitebox opposes LG’s decision

BENGALURU: US-based hedge fund Whitebox Advisors LLC said LG Corp’s plan to spin off five affiliates into a new holding company next year would fail to create value for minority shareholders.

“The spin-off does nothing to address LG’s most pressing issue, which is the unprecedented discount at which the company trades relative to its assets and, accordingly, inferior return to shareholders, ” Whitebox said.