(Reuters.Com) U.S. activist hedge fund Elliott said on Tuesday it is seeking an injunction against Samsung C&T Corp and its directors to block a proposed $8 billion takeover offer from Cheil Industries Inc.
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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