collected by :Molly Tony
Harman shareholders will receive $112 per share in cash, the shareholders voted in favor of the deal last year.
Last year Samsung announced that it would be buying Harman for $8 billion and now the company has announced that it has completed its acquisition.
We look forward to working with all of HARMAN’s employees to execute on our vision.”You can find out more information about the acquisition of Harman by Samsung at the link below.
Samsung’s and HARMAN’s leadership in these spaces perfectly positions Samsung to be the preferred partner to our OEM customers.
The close of this transaction opens the door to create substantial growth opportunities and deliver greater benefits for customers worldwide,” said Young Sohn, President and Chief Strategy Officer of Samsung Electronics, and Chairman of the Board, HARMAN.
Samsung completes Harman acquisition
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On Saturday, the company announced the completion of its Harman International Industries acquisition, its largest such deal ever.
Why it matters to you The arrest of vice chairman Lee Jae-Yong isn’t stopping Samsung from conducting business, as the company completes its acquisition of Harman.
Harman will continue to conduct business as an independent subsidiary under the terms of the deal.
That said, Samsung will now become the parent company to Harman’s work force, headquarters and facilities, and all its consumer and professional audio brands.
“Samsung shares our commitment to our customers and our culture of speed, innovation and execution.