Hello, welcome to another MLEX podcast, James Panicki, coming to you from the MLEX offices in Melbourne, Australia.

Great to have your company. And as subscribers of our shareholder activist service know

only too well, it's been a roller coaster ride for Elliott Management, the world's largest

activist fund in its proxy campaign with South Korea's Hyundai Group. Many investors were

reluctant to be seen as siding with Elliot in South Korea, and this created problems

for the funds campaign to win support for its efforts to obtain influence and dividend payouts

from Hyundai Motor and Hyundai Mobus, which is a car parts company. And that led to the news that

many had been expecting late on Friday. Elliot lost its proxy fight with the Hyundai companies,

with shareholders rejecting the activist fund's proposed changes.

Our New York-based senior correspondent, Jason Booth,

has been covering the drama of Elliot's Hyundai Gambit.

Hello, Jason.

Hello, James.

Now, firstly, update us on the vote on Friday. How big

a defeat was this for Elliot? Well, it was quite an overwhelming defeat. They really didn't get

anything they were looking for as far as dividend payouts or board seats, which they were looking for.

And it wasn't even close, which is significant.

You know, Elliot's only lost one proxy fight in recent memory in the last 10 years or so,

and that was also against a Korean company, Samsung, C&T,

when they were blocking their, opposing their merger with chale industries.

And they lost that, but it was very close.

But in this case, it wasn't close.

...