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S. Korea court rules in favour of Samsung subsidiaries merger

2015-07-02 11:29:44| Chemicals - Topix.net

A South Korean court on Wednesday ruled in favour of a proposed merger of two Samsung Group subsidiaries, rejecting a US hedge fund's motion to stop the eight-billion-dollar acquisition. US hedge fund Elliott had asked for a court injunction to stop Cheil Industries acquiring Samsung C&T Corp through an all-stock deal, a move seen as an effort by Samsung's founding Lee family to boost control over the conglomerate ahead of a generational power transfer.

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