You get the hint? Harman is one of the top American companies in the world, that designs and engineers connected products for automakers, consumers and enterprises worldwide along with audio products.
Samsung announced the agreement today and mentioned that Harman will operate as a standalone Samsung subsidiary with current CEO Dinesh Paliwal keeping his seat. Young Sohn (the President and Chief Strategy Officer of Samsung Electronics) will now be Chairman of the board that will oversee Harman operations. He mentioned:
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“Today is a historic moment for us. The close of this transaction opens the door to create substantial growth opportunities and deliver greater benefits for customers worldwide”
Samsung had already announced the deal back in November 2016, but it took them 3 months to finalize the deal, since the shareholders of the US company had to be… persuaded. Under the terms of the agreement Harman shareholders are expected to receive $112 per share, which is really impressive amount of money per share.