Oct 12 Two affiliates of activist hedge fund
Elliott Management said its view on Samsung Electronics Co
had not diminished, despite the company ditching its
flagship Galaxy Note 7 smartphone.
Elliott Management, which owns 0.62 percent of Samsung
Electronics, had submitted unsolicited proposals for a radical
corporate makeover at the world's biggest smartphone maker
earlier this month.
The company also slashed its quarterly profit estimate by a
third on Wednesday, taking a $2.3 billion hit after scrapping
the Note 7, in what could be one of the costliest product safety
failures in tech history.
(Reporting by Narottam Medhora in Bengaluru; Editing by Sriraj