Pursuits
Small Shareholders Vent Samsung Frustrations, Side With Elliott
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It’s a Friday evening in Seoul and the BBQ fried chicken joint in the Gangnam district is filled with ants angry with the Samsung Group.
Only these aren’t insects. Ants are what individual shareholders are called in South Korea because of their diminutive influence. On this evening, about a dozen of them have gathered to discuss the prospects of ants making a difference in Samsung Group’s feud with billionaire activist investor Paul Elliott Singer, a fight that’s turning into one of the biggest proxy contests the country has ever seen.