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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,
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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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Codrut Nistor
Codrut Nistor - Senior Tech Writer - 5436 articles published on Notebookcheck since 2013
In my early school days, I hated writing and having to make up stories. A decade later, I started to enjoy it. Since then, I published a few offline articles and then I moved to the online space, where I contributed to major websites that are still present online as of 2021 such as Softpedia, Brothersoft, Download3000, but I also wrote for multiple blogs that have disappeared over the years. I've been riding with the Notebookcheck crew since 2013 and I am not planning to leave it anytime soon. In love with good mechanical keyboards, vinyl and tape sound, but also smartphones, streaming services, and digital art.
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Codrut Nistor, 2017-02-20 (Update: 2017-02-20)