Samsung reportedly dropping the Magneti Marelli deal
Earlier this year, it has been rumored that Samsung was interested in acquiring a Fiat Chrysler subsidiary known as Magneti Marelli. Back then, we heard that the South Korean company was interested in Magneti Marelli's telematics, entertainment and lighting capabilities, willing to pay $3 billion for it. Unfortunately, it looks like everything changed in the meantime, so this deal has been dropped.
According to an industry watcher, "Samsung was going to take over Haman and Magneti Marelli at the same time, but eventually buying Harman and gave up buying Magneti Marelli." Various reports claim that Samsung had trouble negotiating the price of this acquisition, as FCA demanded three times the estimations of the well-known IT giant.
Magneti Marelli is a top 30 company in the auto parts industry, producing infotainment and telematics equipment, as well as lighting and suspensions. Thanks to Harman, Samsung has some of these areas covered, but insiders familiar with this matter think there is still a chance for the company to work with Magneti Marelli in the future.