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Securities Analysts Anxious amid Investigation of Controversial Samsung M&A

Securities Analysts Anxious amid Investigation of Controversial Samsung M&A

SEOUL, Nov. 28 (Korea Bizwire) – Last week, prosecutors began probing the $8-billion merger in 2015 between two Samsung affiliates – Samsung C&T and Cheil Industries – over the possibility that Choi Soon-sil, the center figure in Korea’s influence-peddling scandal, may have also been behind Samsung’s controversial deal.  The merger faced strong challenges from individual [...]

Elliott Returns Stockholder Certificate, All Eyes on the Possibility of Disposal

Elliott Returns Stockholder Certificate, All Eyes on the Possibility of Disposal

Seoul, July 28 (Korea Bizwire) - It has been reported that Elliott Management, an American hedge fund that filed lawsuits opposing the merger of Samsung C&T Corporation and Cheil Industries Inc., has returned its stockholder certificates for Samsung C&T Corporation, Samsung SDI and Samsung Fire Insurance to the Korea Securities Depository (KSD). Since the proposal to merge Samsung C&T [...]

KCGS Advises NPS to Oppose Samsung C&T Merger

KCGS Advises NPS to Oppose Samsung C&T Merger

Seoul, July 9 (Korea Bizwire) – The Korea Corporate Governance Service (KCGS) has advised the National Pension Service (NPS) to oppose the merger between Samsung C&T and Cheil Industries. According to a statement released by the financial investment industry on July 8, the KCGS recently submitted a report suggesting that the NPS should oppose the proposed [...]

Korea Considering Legislation to Protect Corporate Management Rights from Hedge Funds

Korea Considering Legislation to Protect Corporate Management Rights from Hedge Funds

SEOUL, July 7 (Korea Bizwire) – As Samsung Group and U.S. hedge fund Elliott Management are struggling over the merger between Cheil Industries and Samsung C&T, some are raising concern that Korean firms’ management rights should be defended from attacks by international hedge funds. They say that as the Korean economy has matured and its financial markets are [...]

Korean Stock Firms Criticize ISS Decision on Samsung Merger

Korean Stock Firms Criticize ISS Decision on Samsung Merger

SEOUL, July 7 (Korea Bizwire) – After the proxy advisory firm Institutional Shareholder Services (ISS) released its report opposing the merger between Samsung C&T and Cheil Industries, the de facto holding company of the Samsung Group, Korean stock companies criticized faults in the advisory report one after another. On July 6, Korea Investment and Securities assumed [...]

Cheil Industries Pledges More Dividends, Improved Governance amid Merger Dispute

Cheil Industries Pledges More Dividends, Improved Governance amid Merger Dispute

SEOUL, June 30 (Korea Bizwire) — Cheil Industries, the de facto holding company of Samsung Group, pledged Tuesday to deliver more dividends to shareholders and revamp its overall governance structure, as it seeks to convince investors ahead of a key shareholders meeting for a proposed merger with the group’s construction arm. The measures came as [...]

Institutional Investors to Act as Swing Voters with More Than 20 Pct Shares of Samsung C&T

Institutional Investors to Act as Swing Voters with More Than 20 Pct Shares of Samsung C&T

SEOUL, June 23 (Korea Bizwire) — South Korean institutional investors own more than 20 percent of Samsung C&T, which could serve as the swing vote on its high-stakes fight with a U.S. hedge fund over a controversial merger plan, market sources said Tuesday. The state-run National Pension Service (NPS), the biggest institutional investor in South Korea, and [...]

Samsung C&T’s Minority Shareholders Unite against Merger with Cheil Industries

Samsung C&T’s Minority Shareholders Unite against Merger with Cheil Industries

SEOUL, June 22 (Korea Bizwire) – Amidst the all-out-war between Samsung Group and American activist hedge fund Elliott over the planned merger between Samsung C&T and Cheil Industries, minor shareholders of Samsung C&T are seeking to exert their own influence by uniting. According to “Solidarity of Minor Shareholders of Samsung C&T,” an Internet community comprised of Samsung [...]