The Traderszone Network

Published in TZ Latest News 16 July, 2015 by The TZ Newswire Staff

Samsung C&T shareholders approve Cheil Industries’ takeover offer

Samsung C&T Corp shareholders on Friday voted to approve an $8 billion all-share takeover offer from sister firm Cheil Industries Inc, a close-run but key win for Samsung Group’s founding family as it prepares for generational succession at South Korea’s largest conglomerate. Samsung C&T’s co-Chief Executive Officer Choi Chi-hun said at an extraordinary shareholder meeting called to vote on the deal that 69.53 percent of votes cast were in favor of the merger. U.S.

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