Samsung experienced a significant drop in its stock value, slumping as much as 10%, the most substantial decline in four years, following the rejection of proposals from activist funds by its shareholders. These proposals, aimed at increasing dividends and initiating a share buyback, were notably backed by Norway's oil fund but were quashed by Samsung. This event marks a significant test of South Korea's ongoing corporate reform efforts, highlighting the challenges faced by activist investors in pushing for corporate governance reforms within major South Korean conglomerates.
Some shareholders oppose KKR’s offer for mdf commerce, saying price is inadequate /via @globeandmail https://t.co/faQ7CPmMKP
Samsung quashes activist proposals backed by Norway’s oil fund South Korean conglomerate’s de facto holding company rejects calls to increase dividends and share buybacks https://t.co/05wMit9yaS via @crsdavies @songft @FT #HedgeFunds #ActivistInvestor #CorpGov
Samsung C&T shares fall amid test of South Korea's corporate reform push https://t.co/vtbQhf4Dzt https://t.co/TxUhrK5hcu
Samsung quashes activist proposals backed by Norway’s oil fund https://t.co/XHnyQcYQCu
Samsung slumps as much as 10%, the most in four years, after its shareholders rejected proposals from activist funds for a dividend increase and a share buyback https://t.co/ayG0kErT6a