A Hostile M&A Fight for T'Way Air
An M&A fight for T'Way Air has officially erupted as Daemyung Sono Group sent a letter to the current management requesting several management improvement measures including resignation of existing management.
Currently, T'Way Air's largest shareholders are T'Way Holdings and Yelimdang which combined have 30.07% stake in T'Way Air. Daemyung Sono is the second largest shareholder with a 26.77% stake.
From Daemyung Sono Chairman Seo Jun-Hyeok perspective, entering the aviation industry is attractive because it can create synergy with existing hotels and resort businesses.
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