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Business

Samsung battles hedge fund over merger proposal

Samsung C&T is far larger than the holding company poised to absorb it.

SEOUL -- Samsung is butting heads with a U.S. hedge fund over an internal merger, a sign of mounting pressure from activist shareholders amid an earnings decline and controversy over its hereditary leadership.

     On June 19, court room 358 at the Seoul Central District Court saw a heated argument over a planned merger between Cheil Industries, Samsung's de facto holding company, and trading house and construction company Samsung C&T.

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