For Samsung's founding Lee family, the merger is a crucial step in its strategy to consolidate its control of the giant, multi-headed conglomerate, ahead of a generational transfer of power from ailing patriarch Lee Kun Hee. But a significant number of C&T investors, rallied by US hedge fund Elliott Associates - the company's second-largest single shareholder - have loudly contested the takeover, arguing that it wilfully undervalues the C&T share price. "The company is trying to forcibly push through with the merger which is absolutely unfair and unreasonable," Elliott lawyer Choi Young-Ik told Friday's shareholder meeting. "I sincerely urge you to vote against it," Mr Choi said. Samsung C&T executives have argued that the takeover makes good business sense and will enhance shareholder value in the long-run, with a more competitive merged company that could target sales of 60 trillion won (S$71 billion) by 2020.