Ron Burgundy Posted July 3, 2015 Share Posted July 3, 2015 By Se Young Lee and Joyce Lee SEOUL (Reuters) - U.S. activist hedge fund Elliott Associates escalated its battle to block a $8 billion merger of two Samsung Group [sAGR.UL] firms on Friday, filing an appeal against a South Korean court ruling in a fresh bid to block a key shareholder vote. Elliott wants shareholders to reject the all-stock takeover bid by Samsung Group de facto holding firm Cheil Industries Inc for Samsung C&T Corp, saying the offer undervalues the construction company in which it is the third largest shareholder. In a rare case of investor activism in South Korea, Elliott has taken to the courts to try and block the deal, which analysts say is key to consolidating various stakes in top affiliates of the sprawling family-run Samsung conglomerate ahead of a looming leadership succession. View the full article Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.