A South Korean appeals court on Thursday rejected the latest effort by US hedge fund Elliott Associates to block the $8.0 billion merger of two Samsung affiliates.
The ruling by the Seoul High Court clears any final obstacle to the convening of a shareholders’ meeting on Friday which will see a vote on the proposed takeover of construction company Samsung C&T by affiliate Cheil Industries.
Elliott Associates, which is the second largest single shareholder in C&T, opposes the takeover, saying it significantly undervalues the company’s stock.
The dispute is being seen as a landmark challenge to the often opaque and self-serving business practises of the giant, family-run conglomerates, or “chaebol,” that dominate South Korea’s economy.
Full content: The Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 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