The Seoul Central District Court rejected Elliott's claim for the additional payment of 26.7 billion won (US$20.2 million), which stemmed from a dispute over Samsung C&T's merger with Cheil Industries in 2015.
Elliott opposed the merger and exercised its right to demand stock buybacks. It later withdrew the application and received 72.4 billion won in settlement from Samsung C&T in May 2022.
Last October, the hedge fund filed a lawsuit, claiming that it is entitled to an additional 26.7 billion won, citing a confidential agreement made with Samsung C&T in October 2022.
The agreement allegedly stipulated that if the claim amount changed in lawsuits with other shareholders, the difference would be paid accordingly. Samsung C&T has asserted that it has no obligation to provide additional compensation.
"Delayed interest is not included in any costs associated with the original stock purchase price," the court said.
reporter
Kim Joo-heon
jhkim123@ajunews.com
