Elliott says reserves all options after Samsung C&T investors approve Cheil offer
SEOUL, July 17 (Reuters) - U.S. activist hedge fund Elliott Associates said on Friday it was disappointed with Samsung C&T Corp shareholders' decision to approve Cheil Industries Inc's $8 billion takeover offer and reserves "all options at its disposal".
Samsung C&T shareholders earlier on Friday voted in favour of the all-stock takeover offer from Cheil Industries Inc , delivering a close-run but key win for Samsung Group's founding family as it prepares for generational succession at South Korea's top conglomerate.
Elliott, C&T's third-largest shareholder with a 7.1 percent stake, has vocally opposed the deal on the grounds that it undervalues C&T.
(Reporting by Se Young Lee; Editing by Ryan Woo)
Terms and Privacy Policy