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 [...]
SEOUL, June 12 (Korea Bizwire) – Samsung C&T Co., a construction and trading arm of Samsung Group, said Friday that it is seeking to delist its depositary receipts (DRs) traded on the British stock market in order to stem a possible lawsuit there by a U.S. hedge fund over its attempt to merge with its [...]
SEOUL, June 11 (Korea Bizwire) – As the struggle between American hedge fund Elliott Associates and Samsung Group continues, local institutional investors find themselves in the difficult position of having to choose sides. Elliott’s argument that the proposed merger between Samsung C&T and Cheil Industries undervalues Samsung C&T and goes against the interests of shareholders is widely received, [...]
SEOUL, June 10 (Korea Bizwire) — Samsung C&T, the construction arm of Samsung Group, said Wednesday its plan to merge with the group’s de facto holding firm doesn’t hurt shareholders’ interests, refuting a U.S. hedge fund’s claim that the builder is undervalued. In late May, Samsung C&T unveiled the plan to merge with Cheil Industries in [...]
SEOUL, June 10 (Korea Bizwire) — The number of executives at South Korea’s conglomerates have declined in the first quarter, a report showed Wednesday, as many businesses here scrambled to cut back costs amid a protracted economic slowdown. The number of high-ranking executives at 268 firms affiliated with 30 local conglomerates stood at 10,486 in [...]
SEOUL, Jun. 9 (Korea Bizwire) — A U.S. activist hedge fund said Tuesday it filed a court injunction to stop South Korea’s top conglomerate Samsung Group from merging two key units. The legal action by Elliot Management comes after Cheil Industries Co., Samsung’s de facto holding company, announced a plan to take over construction and [...]
SEOUL, Jun. 5 (Korea Bizwire) — A U.S. hedge fund’s stake hike in Samsung C&T Corp. and objection to a proposed merger with Cheil Industries Inc. may not be strong enough to upend the well-orchestrated plan, but it could complicate Samsung Group’s restructuring move ultimately aimed at a smooth leadership change, market watchers said Friday. [...]
SEOUL, June 2 (Korea Bizwire) – South Korea’s top family-controlled conglomerates, known here as chaebol, have recently announced plans to merge their key units, in what is widely seen as a play to simplify their governance structures and help pave the way for power transfers. Betting such moves will trigger a bull run for the [...]
SEOUL, May 26 (Korea Bizwire) – Cheil Industries and Samsung C&T, two key affiliates of South Korea’s top conglomerate Samsung Group, said Tuesday they are planning to merge by the end of August. “Under the merger agreement, subject to approval from the two companies’ shareholders, Cheil Industries will acquire Samsung C&T by offering 0.35 new [...]
SEOUL, Jan. 22 (Korea Bizwire) – Samsung Group’s B2B and B2C affiliate companies have scored favorable responses among consumers in Saudi Arabia. According to recent data, the Seoul-based electronics powerhouse has grabbed the top spot on the BrandIndex Buzz Rankings, an annual brand-perception monitoring report created by market research firm YouGov. Samsung Electronics recorded a [...]