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Elliott faces credibility test

2015-07-05 15:52:57| Semiconductors - Topix.net

U.S. hedge fund Elliott Associates faces a new challenge in its aim to derail the proposed merger of two Samsung Group units, as the prosecution launched an investigation into allegations that Elliott fabricated information in a regulatory filing. Elliott, the third-largest shareholder of Samsung C&T with a 7.1 percent stake, has been seeking to thwart Samsung's plan to merge Cheil Industries, the de facto holding company, with the Korean group's construction and trading unit Samsung C&T.

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