Deals
Elliott Seeks $770 Million From South Korea in Samsung Fight
- Activist investor urges South Korean government to pay damages
- Failed proxy fight at Samsung led to massive corruption probe
Photographer: Krisztian Bocsi/Bloomberg
This article is for subscribers only.
Elliott Management Corp. said it was seeking compensation for at least $770 million in damages from South Korea over how its former administration intervened in the merger of Samsung C&T Corp. and Cheil Industries Inc. in 2015.
Billionaire Paul Singer’s New York-based hedge fund said in a statement Friday it had submitted the dispute for arbitration and urged the government to pay the damages in order to preserve its reputation with international investors. Elliott said, to date, the parties have been unable to resolve the matter on their own.