SAMSUNG HEAVY INDS ORDGrey Market
Nov. 19, 2014, 6:20 AM
- Samsung Heavy Industries (OTC:SMSHF) and Samsung Engineering have scrapped plans to merge after facing a large bill to buy back shares from shareholders opposed to the deal. The merger had been valued at 2.5T won ($2.3B).
- Samsung Heavy says it will now seek other ways to find synergies with Samsung Engineering in offshore plant construction and expanding its global market presence.
- Previously: Samsung continues group-wide restructuring
Sep. 1, 2014, 6:12 AM
- In another round of Samsung restructuring, Samsung Heavy Industries (OTC:SMSHF) will absorb Samsung Engineering in a 2.5T won ($2.5B) deal.
- Under the terms of the transaction, Samsung Heavy will issue around 94M new shares to Samsung Engineering shareholders at 26,972 won per share.
- Samsung's restructuring has accelerated since the May hospitalization of the group's chairman Lee Kun-hee, and has sparked investor speculation to the group's succession.