Icahn may plan hostile bid for Samsung Electronics
US investor Carl Icahn may be planning a hostile takeover bid for Samsung Electronics, South Korean media reported on Friday.
By Agencies |
SEOUL: Activist US investor Carl Icahn may be planning a hostile takeover bid for Samsung Electronics Co, South Korean media reported on Friday, citing an unnamed high-ranking official at Samsung.
Samsung Electronics is mapping out defensive measures against potential hostile takeover bids by the US billionaire investor, and possibly other foreign buyout funds, the report also said.
In response to the report a company executive said that Samsung has strategies to combat hostile takeover bids, although it's not aware of the existence of any such attempts.
``I don't know if there has really been a takeover attempt by Icahn,'' Chu Woo-sik, executive vice president of Samsung's investor relations team, said in response to the report.
``We're always wary of an appearance of such an attempt and we do have strategies to combat such a bid,'' Chu told Dow Jones Newswires by telephone.
Samsung Electronics is South Korea's most valuable company with a market capitalization of 95.2 trillion won ($103.7 billion; euro75.3 billion) as of the close of trading Thursday. Foreign investors owned 49 percent of its shares at the end of the session.
Samsung Electronics is mapping out defensive measures against potential hostile takeover bids by the US billionaire investor, and possibly other foreign buyout funds, the report also said.
In response to the report a company executive said that Samsung has strategies to combat hostile takeover bids, although it's not aware of the existence of any such attempts.
``I don't know if there has really been a takeover attempt by Icahn,'' Chu Woo-sik, executive vice president of Samsung's investor relations team, said in response to the report.
``We're always wary of an appearance of such an attempt and we do have strategies to combat such a bid,'' Chu told Dow Jones Newswires by telephone.
Samsung Electronics is South Korea's most valuable company with a market capitalization of 95.2 trillion won ($103.7 billion; euro75.3 billion) as of the close of trading Thursday. Foreign investors owned 49 percent of its shares at the end of the session.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
