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Carl Icahn denies Samsung buyout plan

Posted: 19 Jul 2007 ?? ?Print Version ?Bookmark and Share

Keywords:Samsung buyout plan? investor? Carl Icahn?

Straightening out the rumors that have circulated recently, investor Carl Icahn has denied that he was preparing a hostile takeover of Samsung Electronics Co. Ltd , according to a report from the Associated Press.

A Korean publication reported that Icahn, who is known for his corporate takeover bids, along with other foreign buyout funds was ready to launch a takeover bid for Samsung. The billionaire investor said he didn't even own a stake in the company.

A Samsung executive earlier said the Korean company was not aware of any buyout plans, but has a strategy to combat hostile takeover bids.

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