Harman shareholders approve the deal with Samsung

Harman Connected banner, Harman shareholders approve merger with Samsung
Harman Connected
Although this acquisition has been announced back in November, the Samsung-Harman deal had to pass the shareholder's vote, and this has just happened. Now, the deal is expected to close in the coming months.
Codrut Nistor,

Samsung will soon gain control of more than just Harman's automotive business, since acquiring the company will also give them control of the well-known premium audio brands such as Harman Kardon, JBL, or Bang & Olufsen. Now, the shareholders' opposition is finally behind and the deal can move on.

Not long ago, some Harman shareholders filed a lawsuit against the company's CEO because they considered the selling price to be lower than the company was worth. Now, the majority has decided - according to a regulatory filing with the US Securities and Exchange Commission, over 70 percent of the company's common shares (49,460,322 out of 69,883,605) were represented at the recent meeting. The results of the vote are these - 46,921,832 in favor, 2,107,178 against the acquisition, and 431,312 abstentions. 

The next approvals needed for the deal to finally close will come from the antitrust authorities in the US, South Korea, China, and the EU. If everything goes as planned, Harman should become a part of Samsung by the third quarter of 2017.


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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2017 02 > Harman shareholders approve the deal with Samsung
Codrut Nistor, 2017-02-20 (Update: 2017-02-20)
Codrut Nistor
Codrut Nistor - News Editor
Although I have been writing about new software and hardware for almost a decade, I consider myself to be old school. I always enjoy listening to music on CD or tape instead of digital files and I will not even get into the touchscreen vs physical keys debate. However, I also enjoy new technology, as I now have the chance to take a look at the future every day. I joined the Notebookcheck crew back in 2013 and I have no plans to leave the ship anytime soon.