Harman shareholders vote in favour of acquisition by Samsung

Harman shareholders vote in favour of acquisition by Samsung

Published: WORLD

WORLD: Business Korea is reporting that Harman International shareholders have voted in favour of the company’s acquisition by Samsung. This follows recent news of a class-action lawsuit filed by a group of Harman shareholders, claiming that it had ‘failed to seek a better offer’.

Harman International’s regulatory filing with the US Securities and Exchange Commission states that 70.8 per cent (49.5 million) of the 69.9 million common stocks were represented during the vote, which took place on Friday, with the merger approved by 94 per cent (46.9 million) of the shareholders represented. With this potential roadblock overcome, for the acquisition to be finalised, regulatory approval will need to be granted in Korea, the USA, China and Europe.

Another obstacle that could derail the deal, according to the Korea Joongang Daily, is the arrest of Samsung Electronics’ vice chairman Lee Jae-yong last week. Mr Lee was arrested on bribery charges and the first court ruling is expected as early as April.

Should the acquisition be finalised later this year, it will be worth US$8 billion, the largest merger for any Korean company with another from overseas. It will also mark the biggest acquisition for Samsung to date.

www.harman.com
www.samsung.com

Related Articles

Knowledge Centre

DWR presents MA Intermediate Training - Durban
Calendar
DWR presents MA Intermediate Training - Durban

to

Map 199 Percy Osborn Road, Morningside, Durban

more

Published:

WORLD

How to rig a Focus Venue stack

Take a first look at our upcoming modular Line Array - Focus Venue - and learn how to rig it. Learn more about Fohhn Beam Steering Technology: www.fohhn.com

more »


4K and Beyond: Technical Challenges and Opportunities - Atlona

pdf - PDF

Published:

WORLD

4K and Beyond: Technical Challenges and Opportunities - Atlona

When high-definition TVs (HD or 1080p) first entered the market, only three HDTV channels were available. Fast forward five years, the number of channels grew to 40. Today, over 20 years since the HD breakthrough, most streamed content is available …

more »


Our
Magazines

Subscribe to our magazines

If you would like to subscribe to one or more of our magazines please click on the SUBSCRIBE button to take you to our registration page.

Pro Audio Asia - July - August 2017
Pro Audio Asia
Pro Audio MEA - July - August 2017
Pro Audio MEA
Worship AVL - July - August 2017
Worship AVL