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A Great Vehicle Lurks in HyundaisCorporate Chop Shop

Is the tide turning in the favor of activist shareholder Elliott Management Corp. in its drive to clean up the web of more than two dozen auto-related companies at the core of the Hyundai chaebol? On Wednesday, South Korean media reported that the group may cancel a central part of a restructuring plan that’s been opposed by Elliott, in the form of the planned merger between its logistics business Hyundai Glovis Co. and the after-sales division of parts supplier Hyundai Mobis Co. The company batted down the reports but shares in Mobis and…

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