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Samsung scrapes to victory in proxy battle over $8 bln merger| Reuters

Jul 17, 2015    

SEOUL Samsung Group's founding family on Friday scored a narrow win in a landmark proxy battle, fending off an activist investor opposed to an $8 billion deal that cements its grip as a new generation prepares to take the reins of South Korea's biggest conglomerate.At an often-heated shareholder meeting, investors in builder Samsung C&T Corp approved an all-share takeover offer from sister firm Cheil Industries Inc, Samsung's de facto holding company - but only just. With the backing of two-thirds of votes cast needed for success, some 69.53 percent of shares voted supported the tie-up. U....

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