Elliott Faces Probe Over Alleged Violation In Samsung Merger Deal

U.S. activist investor Paul Singer’s Elliott Associates faces a disclosure probe over an alleged violation of local rules when it tried to block merger of two Samsung Group affiliates last year. South Korea’s local regulations mandate that a trader issue a public disclosure within five days of acquiring over 5% in a listed company. Elliott’s fierce battle to thwart Samsung merger As detailed by ValueWalk, last year Samsung Electronics Co Ltd’s controlling Lee family won a merger of two Samsung affiliates by a thin margin. However, before the shareholder vote on July 17, Elliott initiated a fierce campaign against the merger…