MERGER: ‘LAWFUL ACT’“The plan devised by the defendants for the merger was a standard and lawful response in the context of a management rights dispute,” said a Seoul High Court judge.“It is difficult to judge a Samsung report on the merger at the time as manipulated.”The appeals court also ruled that the alleged accounting fraud involving Samsung Biologics and Samsung Bioepis Co.“cannot be regarded as fraudulent.” Lee has been plagued by legal challenges for nearly a decade, raising investor concerns over the future of Samsung Group as it struggled to grapple with growing competition with rivals.
Industry officials said Samsung will actively pursue M&As and make bold investments as it needs to increase its competitiveness in areas such as AI and robots.“Now that he’s free from legal risks and able to commit himself to active management, we expect Samsung to seek large-scale M&A deals as well as aggressive investments in future growth areas,” said an industry executive.
The Seoul High Court upheld the lower court's ruling last year dismissing all the charges related to the controversial merger of two Samsung affiliates in 2015, which prosecutors said was designed to tighten his control of Samsung Group, the country’s top conglomerate.
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