Deals
Samsung Officials Probed for Insider Trading Before C&T Deal
- Affiliates Cheil, Samsung C&T announced merger in May
- Korea Exchange found officials bought Cheil stock, Yonhap says
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South Korea’s financial regulator is investigating allegations of insider trading by officials at Samsung Group before the merger of two key affiliates by the country’s biggest conglomerate.
The probe includes shares traded before Cheil Industries Inc. agreed to buy Samsung C&T Corp., Kim Hong Sik, an official at the Financial Services Commission, said by phone Friday. The all-stock merger was valued at $9.3 billion when it was announced in May.