South Korea court rejects request to block vote on merger of Samsung Group firms
[SEOUL] A South Korean court on Wednesday denied US fund Elliott's injunction request seeking to block a shareholder vote on a proposed US$8 billion merger between two Samsung Group companies.
Elliott, which owns 7.1 per cent of Samsung C&T, sought to block a C&T shareholder vote scheduled on July 17 over a proposed all-stock takeover attempt by Cheil Industries Inc, the de facto holding company of Samsung Group.
The Seoul Central District Court did not issue a decision on Elliott's second injunction request to block Samsung C&T's stake sale to KCC Corp but plans to announce its ruling before July 17.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Technology
Brokers’ take: DBS cuts Venture Corp price target after Q1 earnings miss
Garmin’s Q1 results beat on strong demand for fitness, auto products
Foxconn’s musical chairs sound like punk rock
US sets up board to advise on safe, secure use of AI
Regulate AI? How US, EU and China are going about It
Meta’s results are best viewed through rose-tinted AI glasses