MBK Partners, a private equity firm, agreed to acquire a 20% stake in Hankook, a battery storage manufacturer, for $1.45bn. Upon the announcement of the tender offer, Hankook & Company’s shares experienced a significant surge. At one point in intraday trading, the shares jumped by more than 19%. Hankook & Company is a reputable name in the industry as it serves as the holding entity for Hankook Tire & Technology, the seventh-largest tire manufacturer globally in terms of sales.