U.S. hedge fund says it will vote against LG's spin-off plan

FILE PHOTO: A man talking on his phone walks past the logo of LG Electronics during Korea Electronics Show 2016 in Seoul, South Korea, October 27, 2016. REUTERS/Kim Hong-Ji

SEOUL (Reuters) – U.S.-based hedge fund Whitebox Advisors LLC said on Wednesday it intends to vote against LG Corp’s spin-off plan in a shareholder meeting expected on March 26.

Whitebox Advisors, a shareholder of LG Corp, had previously publicly opposed the plan, saying it “sacrifices minority shareholder return in order to resolve a family succession issue”.

A spokesman for LG Corp could not be immediately reached.

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