Elliott To Sell Most Samsung C&T Shares After Losing Merger Battle

Elliott Associates LP asked Samsung C&T Corp to buy back the bulk of its shares after the U.S. hedge fund lost a proxy battle to block a proposed takeover of Samsung C&T by affiliate Cheil Industries Inc.

However, many believe the activist hedge fund could still attempt to block the planned merger through legal measures.

Elliott couldn’t thwart Samsung C&T merger

As detailed by ValueWalk, Cheil Industries unveiled plans last May to acquire Samsung C&T in an all-stock deal that was seen as an attempt by the Samsung Group’s controlling Lee family to tighten its grip on various affiliates, in particular crown jewel Samsung, ahead of...