Flashlight Capital Urges Samsung Chairman Not to Interfere in S-1 Bid

M&A · PartnershipManagement
โดย Business Wire·KR·Read original
Summary · why it matters

Flashlight Capital Partners has requested to inspect the shareholder registers of five Samsung Group affiliates that collectively hold a 20.6% stake in S-1 Corporation, as part of its campaign to acquire that stake for KRW 906.6 billion, or KRW 116,000 per share. The offer, made on August 27, targets Samsung SDI, Samsung Life, Samsung Card, Samsung Securities, and Samsung Fire & Marine, and the five boards have until September 23 to respond. Flashlight Capital's managing partner, Sanghyun Lee, has also sent a letter to Samsung Electronics Executive Chairman Jay Y. Lee, urging him not to interfere with the boards' independent consideration of the offer. Lee argues that the decision should be made by the boards and their shareholders, and that access to the registers will allow direct communication with those shareholders. Flashlight Capital, founded by Lee, previously led the acquisition of S-1 rival ADT Caps in 2014 and launched an activist campaign at KT&G in 2022.

Impact on stocks 10

Financials▲ · 4 stocks
Samsung Card Co. Ltd.
029780
± MixedCapitalrelevance

Flashlight Capital seeks to inspect Samsung Card's shareholder register and buy its S-1 stake for KRW 116,000/share; board has until Sept 23 to decide, outcome unclear.

Samsung Life
032830
± MixedCapitalrelevance

Flashlight Capital targets Samsung Life's stake in S-1 with a KRW 906.6bn offer and register-inspection request; board decision pending, impact uncertain.

Samsung Fire & Marine Insurance
000810
± MixedCapitalrelevance

One of five Samsung affiliates holding S-1 stake that Flashlight wants to buy for KRW 116,000/share; board must decide by Sept 23.

Samsung Securities
016360
± MixedCapitalrelevance

One of five Samsung affiliates whose S-1 stake Flashlight seeks to acquire; board decision pending.

Smart City / Autonomous Infrastructure▲ · 1 stocks
S-1 Corp
012750
± MixedCapitalrelevance

Subject of Flashlight Capital's KRW 906.6bn bid for a 20.6% stake at KRW 116,000/share; outcome hinges on the five Samsung boards.

Electrification & Mobility▲ · 1 stocks
Samsung SDI
006400
± MixedCapitalrelevance

One of five Samsung affiliates targeted by Flashlight's KRW 906.6bn offer for its 20.6% S-1 stake.

Artificial Intelligence▲ · 1 stocks
Samsung Electronics Co Ltd
005930
± MixedCapitalrelevance

Chairman Jay Y. Lee urged not to interfere in the affiliate boards' independent consideration of Flashlight's S-1 stake offer.

Consumer Staples▲ · 1 stocks
Others▲ · 2 stocks

Off-coverage companies 2

Flashlight Capital PartnersPrivate± Mixed
relevance

SK ShieldusPrivate± Mixed
relevance

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