Samsung closes HARMAN acquisition for approximately $8 billion
Shareholders of HARMAN were not able to shake Samsung for more money as the chaebol has closed in on its purchase of the Connecticut-based audio company for $112 per share or about $7.8 billion. Samsung Electronics has wrapped up on its biggest acquisition in its history, taking in one of the FORTUNE 500.
HARMAN is made up of 30,000 employees working on the Harman Kardon, JBL, Lexicon, Mark Levinson and Infinity brands with focuses in mobile, home, automotive and industrial audio. Dinesh Paliwal retains his CEO position at the company.
Audio enhancements for the Galaxy S8 were rumored to be branded with the HARMAN name.