Why Samsung (SSNLF) Stock Declined Today

NEW YORK (TheStreet) -- Shares of Samsung Electronics Co.  (SSNLF) closed down 3.70% to $1,300. today after it was reported that Lee Kun-hee, the 72 year-old chairman, was in stable condition at a hospital in Seoul after suffering a heart attack yesterday.

His latest health issues raised concerns over whether his son, Jay Y. Lee, was ready to take control over South Korea's largest company by market value, the Wall Street Journal reports.

The younger Mr. Lee, who has been groomed as a successor for many years, served as Samsung's COO until 2012 and is now vice chairman. He doesn't hold an operating title, the Journal said.

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