The Canada Pension Plan Investment Board, which holds a small stake in South Korean builder Samsung, said it was voting against the $8 billion all-stock takeover offer by Cheil Industries Inc.
The pension fund, which disclosed its vote intention on its website, did not elaborate. Thomson Reuters data shows that the board holds a 0.14 percent stake in Samsung C&T, whose proposed merger with Cheil Industries has been opposed by US hedge fund Elliott Associates.
The Canada Pension Plan Investment Board also holds a stake in Cheil Industries, which it intends to vote in favour of the deal, according to its website.
Full content: The Wall Street Journal
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