Samsung merger remains on track

• A South Korean court has rejected an appeal from activist fund Elliott Associates to block the merger of two Samsung group companies - Cheil Industries and Samsung C&T - saying that the proposed deal did not represent an illegal transfer of value to investors.
• The deal would allow the heirs of patriarch Lee Kun-hee, who remains hospitalized since a May 2014 heart attack, to consolidate stakes in affiliates like smartphone maker Samsung Electronics (OTC:SSNLF) and keep control of the Samsung group.
• Elliott, which has a 7.1% stake in Samsung C&T, argued the merger should be ruled invalid because it undervalued the company.