A PYMNTS Company

South Korea: ISS Joins opposition to $8 billion Samsung merger

By  |  July 5, 2015

Proxy advisor Institutional Shareholder Services is recommending that investors reject Samsung Group’s proposed $8 billion merger of two units when the deal comes to a shareholder vote on July 17, Bloomberg reports.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    ISS joins Glass Lewis, another advisory firm, in opposing the merger and siding with activist investor Paul Elliott Singer’s campaign to block the deal on grounds that it would hurt minority shareholders.

    Under the terms of the all-stock deal, Samsung Group’s Cheil Industries would buy out Samsung C&T. The deal is being pushed by Samsung’s Lee family, which has a 20% stake in C&T and is trying to consolidate control over its conglomerate before 47-year-old Lee Jae Yong, the founder’s grandson, takes over.

    Full content: Bloomberg

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.