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Used to calling the shots, Masayoshi Son listens when hedge fund Elliott speaks
SoftBank Group CEO Masayoshi Son speaks at Future Investment Initiative 2019. Photo: Future Investment Initiative Premium
Activist investing is hard work, even for tenacious veterans like Elliott Management Corp. The very mention of its name sends shivers up the spines of corporate fat cats. Yet, until recently, the U.S.-based hedge fund hasn’t been able to scare up much success in Asia.
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Dec 11, 2020
Activist investing is hard work, even for tenacious veterans like Elliott Management Corp. The very mention of its name sends shivers up the spines of corporate fat cats. Yet, until recently, the U.S.-based hedge fund hasn’t been able to scare up much success in Asia.
Elliott has been in the region for years, picking battles with Korean
chaebols and Hong Kong billionaire tycoons. But its track record is mixed at best. In 2015, Elliott lost a proxy fight with Samsung Group’s founding Lee family over an $8 billion merger deal. Three years later, the hedge fund sued South Korea for at least $770 million in damages over that deal. This year, it exited its positions in Hyundai Motor Co with a loss.
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