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US: Hedge fund Elliott Associates criticises $8 billion Samsung merger

By  |  June 4, 2015

US-based hedge fund Elliott on Thursday said it bought a 7.1 percent stake in Samsung C&T Corp and criticised the all-stock takeover offer from Cheil Industries Inc as unfair.

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    Elliott, in a statement, said Cheil’s proposed $8.04 billion offer “significantly undervalues” Samsung C&T and was not in the best interests of Samsung C&T shareholders.

    This is the first opposition raised against the plan to merge the two main pillars of Samsung Group.

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