A South Korean appeals court ruled today that a contested merger between two Samsung Group affiliates last year had short-changed minority shareholders, and said they should receive a bigger payout.
The Seoul High Court decision overturned a lower court ruling that had dismissed the shareholders’ suit against the giant South Korean conglomerate.
The merger last July saw Samsung’s de facto holding company, Cheil Industries, take over construction firm Samsung C&T in an all-stock deal worth an estimated $8.0 billion.
The merger had been passionately opposed by a significant number of C&T investors, rallied by us hedge fund Elliott Associates — the company’s second-largest single shareholder.
Elliott had argued that the takeover wilfully undervalued the C&T share price, at an unacceptable cost to its shareholders.
Full Content: Economic Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI