The planned merger, which would see Cheil Industries acquire Samsung C>T Corp through an all-stock deal, is the latest in a series of moves by Samsung’s founding Lee family to boost control over the conglomerate ahead of a generational power transfer.
The US hedge fund, Elliot Associates, which holds a 7.12 percent stake in Samsung C>T, has opposed the merger, arguing that it “significantly undervalues” the construction firm’s stock.
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