Samsung Electronics has completed its acquisition of the American car infotainment and audio company Harman.
Samsung announced on March 12 that it wrapped up the acquisition of Harman with all the needed procedures being completed in four months after it signed to acquire Harman on November 14, 2016. On February 18, Harman held its shareholders meeting and garnered approval from its shareholders.
Samsung Electronics' acquisition of Harman cost US$8 billion, the largest among Korean-initiated M&A deals. With this acquisition, Samsung Electronics became one of global majors in the automotive electronics business which is widely regarded as one of the future growth engines.
The shareholders of Harman would receive a cash dividend of $112 per share. Samsung Electronics would have the 100-percent stake in Harman through its American unit Samsung Electronics America.
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