[세아홀딩스 공개매수]제안가격 PBR 0.3배…결국 변수는 대주주

SeAH Holdings' first tender offer reflects the growing pressure on undervalued Korean firms to enhance shareholder value, yet the low PBR of 0.3x challenges the incentive for minority shareholders. The potential involvement of major shareholders like Lee Ju-sung suggests this move could be a strategic precursor to affiliate separation or a broader restructuring of the group's governance.