Elliott Associates Challenges Samsung C&T Takeover Offer

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Mani
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Elliott Associates LP, the hedge-fund firm run by billionaire Paul Elliott Singer, said a proposed takeover of Samsung C&T Corp by the Samsung Group’s de facto holding company wasn’t in the best interests of Samsung C&T shareholders. Elliott’s latest move could galvanize opposition to the deal amid growing investor concerns that South Korea’s top conglomerates is putting their founding families’ interests ahead of shareholders’. Before you read further the corporate structure here is a bit John Malone like: Below are two charts from UBS, and one from Nomura which helps visualize the situation: [munger] [drizzle]    Cheil’s proposed takeover of…

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Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports