The review comes after an American hedge fund, Elliott Management, called for the company to take steps to bolster its share price. Those steps included creating a holding company and a listing on an American exchange by one of its arms.
A Samsung move to restructure could ease some of those concerns, according to Sanford C. Bernstein & Company, a research and brokerage firm.
Although that effort won the backing of international investors, it also earned Elliott the moniker “vulture capitalist” within South Korea, where large family-run companies, known as chaebol, often fiercely resist outside intervention.
This time, however, things could be different. The company has taken a softer tone, and in the announcement on Tuesday, Samsung seemed to have addressed most of the points in Elliott’s letter, though it stopped short of committing to a full-on restructuring. Instead it said that it had “retained external advisers to conduct a thorough review of the optimal corporate structure,” which would take six months.
In its letter, Elliott argued that the company should divide itself into two publicly traded companies: a holding company that serves as the Lee family’s main ownership vehicle, and a separate company that would hold the electronics business.
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