Hedge fund Elliott: Samsung Group must offer fair price for restructuring

Wed Jun 17, 2015 7:25pm EDT
 
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SEOUL (Reuters) - U.S. activist hedge fund Elliott said on Thursday South Korea's Samsung Group [SAGR.UL] should make a fair offer to Samsung C&T Corp 000830.KS shareholders in seeking to combine the firm with Cheil Industries Inc (028260.KS: Quote).

Elliott, a Samsung C&T shareholder, said that while it "understands and is supportive" of the need for South Korea's largest conglomerate to restructure in relation to its ongoing succession process, Samsung Group should properly recognize Samsung C&T's value.

(Reporting by Se Young Lee; Editing by Edwina Gibbs)

 
A man walks at the Samsung Electronics' headquarters in Seoul January 7, 2015.   REUTERS/Kim Hong-Ji