Pursuits
South Korea Court Ruling Raises Likelihood of Samsung Merger
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A South Korean court ruled in favor of the nation’s most-powerful corporate family, helping Samsung Group’s campaign to fend off a challenge from billionaire activist investor Paul Elliott Singer.
The court rejected a request from Elliott Associates LP to block a Samsung C&T Corp. shareholders meeting this month that will include a vote on a takeover by affiliate Cheil Industries Inc. The court will rule ahead of that meeting on a second injunction requested by Elliott to stop a Samsung ally from voting treasury shares bought from the target.