Shake-up in key Samsung assets to cement heir's grip as succession looms

Samsung Group's de facto holding company on Tuesday sought another cornerstone as it reconstructs South Korea's biggest conglomerate to smooth the path for management succession, offering more than $8 billion to buy an affiliate with a key stake in flagship firm Samsung Electronics.

Cheil Industries Inc, with interests from construction to fashion, is offering new stock priced at about 8.9 trillion won ($8.11 billion) to buy building firm Samsung C&T Corp. After recent market jitters on Samsung's overhaul, shares in both rose nearly 15 percent - taking Samsung C&T's value beyond the offer price to about 10 trillion won.