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$2.3bn Samsung ship merger scrapped

2014-11-19 12:49:00| Chemicals - Topix.net

Samsung Group scrapped a 2.5 trillion won merger of its shipbuilding and engineering units that would have helped them compete better against European rivals. Samsung Heavy Industries Co, the world's third-largest maker of ships, called off the merger with Samsung Engineering Co after some investors asked the companies to buy back the shares they held, the two companies said in statements today.

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