SEOUL/NEW YORK: Tech giant Samsung Electronics Co Ltd said on Thursday it will carefully review proposals made by U.S. hedge fund Elliott Management for restructuring and a special dividend, pushing the firm's shares to a record high.The activist investor sent a letter to the world's No. Samsung said it was working to recover the device and that it cannot confirm whether the device in question is a replacement Note 7 until it can retrieve it.LATEST TARGETElliott, founded by billionaire Paul Singer, owns 0.62 percent of Samsung's shares. Elliott ultimately failed to derail Samsung C&T's merger with sister firm Cheil Industries Inc.Samsung C&T declined to comment on Elliott's merger proposal.U.S. hedge funds rarely target foreign companies for activist campaigns. "Elliott said it wants Samsung to pay a 30 trillion won ($27 billion) special dividend from its $70 billion cash pile.

Source: The Star October 06, 2016 01:18 UTC