Samsung wins out against activist fund Elliott

Activist fund Elliott loses out to Samsung but the chaebol's narrow win is a warning to other major Korean companies.

In the end, it was Korea Inc that finally came out on top in its battle with the activist US hedge fund.

The long-winding struggle between Elliott Management and Samsung drew to a close on Friday after the powerful Korean chaebol won a crucial shareholder vote for the merger of Samsung CT and Cheil Industries. However, its narrow win is also a warning to other South Korean conglomerates eyeing potential mergers on opportunistic terms.

Given the high-profile nature of the deal, 83.5% of Samsung CT shareholders turned up at the extraordinary general meeting, an usually high percentage. After weeks...

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