(Yahoo Finance) Samsung Electronics responded warily Thursday to a proposal by US hedge fund Elliott Management to split the South Korean tech giant into two companies but markets cheered the plan, sending its shares to a record high.
“We will carefully review the shareholders’ proposals,” the technology conglomerate said in a terse one-line statement, with its spokesmen declining any further comment.Entities controlled by Elliott, the hedge fund run by billionaire Paul Singer, own about 0.62 percent of Samsung.
