The founders of Elliott Management Corporation
hate to lose. In South Korea, however, they have met their match — for now. A few months ago, the New York group took at shot at the mighty Samsung , seeking to block an excessively cosy merger of two of its corporate affiliates.
However, last Friday, after a noisy campaign, Elliott narrowly lost a shareholder vote. The contentious merger will thus proceed — even though many small South Korean shareholders backed Elliott’s campaign.
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