Merger obstacle: An office worker walks by a logo of Samsung C&T Corp, at its head office in Seoul, South Korea. The world’s fourth largest pension fund by assets is the biggest single shareholder in takeover target Samsung C&T Corp, and its vote could ultimately decide the fate of Cheil Industries Inc’s all-stock offer. — AP
S. Korean pension fund told to reject US$8bil merger
SEOUL: An advisory firm recommended South Korea's National Pension Service (NPS) vote against a proposed US$8bil merger of two Samsung Group companies, a deal seen as critical to a leadership transfer at the country’s top conglomerate.
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