Merger between Samsung C&T, Cheil proceeds

Home > Business > Industry

print dictionary print

Merger between Samsung C&T, Cheil proceeds

Samsung C&T said Friday it has received requests from its shareholders to buy back shares worth 670 billion won ($578 million), a step toward a takeover by another Samsung affiliate Cheil Industries slated to be completed on Sept. 1

Thursday was the deadline for shareholders of the construction arm and its sister company Cheil, a chemical and fashion arm, to lodge their claims with the two affiliates if they wished to exercise their appraisal rights for a repurchase of shares against the merger.

That amount falls far below the 1.5 trillion won, the bottom line for a merger to be thwarted.
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now