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$486 Billion Fund Says Samsung Burned Bridges in Activist Fight

By Tony Seruga

Founder of Elliott Management Paul Elliott Singer. Photographer: Chris Ratcliffe/Bloomberg

The manager of the world’s second-largest pension fund is siding with billionaire shareholder activist Paul Elliott Singer in his fight against Samsung Group.

Builder Samsung C&T Corp. burned a bridge with investors when it agreed this week to sell treasury shares to an ally to win support for a $9 billion merger, said Park Yoo-Kyung, a director at APG Groep NV. Though APG owns only 0.3 percent of C&T, it has influence given it manages more than 432 billion euros ($486 billion) of assets…

$486 Billion Fund Says Samsung Burned Bridges in Activist Fight

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