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US fund says seeks injunction to block Cheil Industries takeover of Samsung C&T

Published 09/06/2015, 03:51
© Reuters. Samsung flags are set up at main entrance to Berlin fair ground
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SEOUL (Reuters) - U.S. activist hedge fund Elliott said on Tuesday it is seeking an injunction against Samsung (LONDON:0593xq) C&T Corp (KS:000830) and its directors to block a proposed $8 billion takeover offer from Cheil Industries Inc (KS:028260).

© Reuters. Samsung flags are set up at main entrance to Berlin fair ground

Elliott, in a statement, said the deal is unfair and not in the best interests of Samsung C&T shareholders. Elliott last week disclosed that it holds a 7.1 percent stake in the builder, making it the company's third largest shareholder.

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