Korea Investment Corp, South Korea’s sovereign wealth fund, has requested Elliott Management Corp stop investing in Korea-based businesses following Elliott's losing proxy fight involving Samsung’s controlling Lee family.
Last month, Samsung C&T shareholders handed the Lee family heir apparent Lee Jae-young a victory in his quest for tightening control over the conglomerate’s crown jewel, Samsung Electronics Co.
Elliott lost proxy fight with Samsung
As outlined by ValueWalk, last month Samsung Electronics Co Ltd’s controlling Lee family managed to convince shareholders to approve an $8 billion merger of two Samsung affiliates that will solidify family heir Lee Jay-young’s grip on prized Samsung Electronics Co. The merger proposal...
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