LG Chem, LG Life Science to be merged
Sept 12, 2016
[THE INVESTOR] LG Chem, the chemicals unit of LG Group, said on Sept. 12 that it will be merging with LG Life Science, its smaller drug-making sister firm, within the year with aims to focus resources into nurturing biotechnology as its new growth engine business. Shareholders of both companies approved the merger plan on the day. The final approval will be made on Nov. 28, with the new entity being launched on Jan. 1 next year. Based on stock prices over the past three months, one LG Life Scien