Samsung C&T Corp's small stakeholders protesting a low-ball offer from Samsung's de facto holding company
"In a country with a record of hostility toward foreign capital, some local investors are breaking with tradition as they side with a U.S. hedge fund [Elliott Associates LP] opposing an US$8 billion merger seen vital to the transfer of leadership at South Korea's top conglomerate.
Hundreds of Samsung C&T Corp's small stakeholders have converged on a public web forum in recent days to protest what they say is a low-ball all-stock takeover offer from Cheil Industries Inc , an affiliate of Samsung Group and the conglomerate's de facto holding company."
Channel NewsAsia link:
In US$8 billion Samsung bid, some Koreans break ranks to side with foreign activist
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