HONG KONG and SEOUL, South Korea, June 9, 2015 /PRNewswire/ -- Elliott, the hedge fund with US$26bn under management, today made the following statement:
Elliott continues to believe that the proposed takeover is clearly neither fair to nor in the best interests of Samsung C&T's shareholders, and that it is unlawful. Elliott has therefore taken the step today of commencing legal proceedings for an injunction against Samsung C&T and its directors in order to seek to prevent the proposed takeover from going ahead and thereby protect the interests of Samsung C&T's shareholders. (Docket # 2015KaHab80582)
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Founded in 1977, Elliott manages two funds, Elliott Associates, L.P. and Elliott International, L.P., with assets under management totaling more than US$26 billion. Elliott's investment strategies include actively-managed equity investments in relation to which Elliott's objectives include promoting shareholder value and good corporate governance for the benefit of all shareholders.
SOURCE Elliott Advisors