Seoul court denies Elliott’s W26.7b claims over Samsung merger


The Seoul court dismissed American hedge fund Elliott's request for additional payment related to its opposition to the 2015 merger between Samsung C&T Corp. and Cheil Industries. Elliott, a minority shareholder in Samsung C&T at the time, had already received 72.4 billion won in 2022 for not exercising its appraisal rights. However, the fund later filed a lawsuit seeking an extra 26.7 billion won, alleging that discrepancies in pricing warranted further compensation, which Samsung refuted by denying any secret agreement. The court's ruling on Friday stated that the original appraisal rights settlement did not cover payments for the alleged discrepancies, deeming Elliott's claims unfounded. Despite Elliott's argument based on price differences in Samsung's dealings with other shareholders, the court sided with Samsung, rejecting the hedge fund's demand for additional payment.


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