Sunday, October 24, 2021

Minority Samsung investor says it backs Elliot restructuring proposals

Elliott sent a letter to the world's No. 1 smartphone maker on Wednesday, spelling out changes for Samsung Electronics.

By: Reuters | Singapore |
October 6, 2016 8:21:43 am
Samsung, Samsung electronics, samsung investor, Henderson, minority Samsung investor, Elliot Management, US hedge fund, Samsung news, business news, companies news, latest news, Indian express Henderson owns 0.12 percent of Samsung Electronics.

A minority investor in Samsung Electronics Co Ltd said on Thursday it supports proposals submitted by U.S. hedge fund Elliott Management for restructuring the South Korean technology giant to improve shareholder value. “We are supportive of restructuring and a higher dividend payout to unlock the value in the business (of Samsung) as long-term shareholders,” Andrew Gillan, head of Asia ex-Japan at Henderson Global Investors, told Reuters in an email.

Watch What Else Is Making News

Elliott sent a letter to the world’s No. 1 smartphone maker on Wednesday, spelling out changes that include setting up a holding vehicle for Samsung Electronics and listing its operating company on the Nasdaq stock exchange.

“We are aligned with Elliott and all other minority shareholders in wishing to unlock the value in the company but have not had any specific contact with Elliott,” Gillan said in the email.

Henderson owns 0.12 percent of Samsung Electronics, according to Thomson Reuters data.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
Advertisement
Advertisement
Advertisement
X