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Seoul court deals another blow to Elliott

2015-07-07 16:29:50| Semiconductors - Topix.net

A Seoul court handed Samsung C&T another win Tuesday, setting back billionaire activist investor Paul Elliott Singer's effort to stop the company's proposed merger with Cheil Industries, the de facto holding company of Samsung Group. The Seoul Central District Court rejected U.S. hedge fund Elliott Associates' request to ban Samsung C&T ally KCC Corp. from voting on the planned merger offer with treasury shares bought from the Samsung construction unit.

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