(Bloomberg) -- Shares of Posco, Asia's third-
largest steelmaker, posted their biggest gain since 2002 on
expectations of higher prices and as the company buys its own
shares to strengthen defenses against takeover attempts.
``Posco still wants to raise its share price to deter
takeovers,'' said Kim Joo Hyoung, who helps manage $1.1 billion
at KTB Asset Management Co. in Seoul. Dongkuk Steel Mill Co.'s
decision to raise prices means Posco may do the same, he said.
Read more at Bloomberg Emerging Markets News
largest steelmaker, posted their biggest gain since 2002 on
expectations of higher prices and as the company buys its own
shares to strengthen defenses against takeover attempts.
``Posco still wants to raise its share price to deter
takeovers,'' said Kim Joo Hyoung, who helps manage $1.1 billion
at KTB Asset Management Co. in Seoul. Dongkuk Steel Mill Co.'s
decision to raise prices means Posco may do the same, he said.
Read more at Bloomberg Emerging Markets News
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