The Korea Fair Trade Commission approved Samsung’s acquisition of Harman International Industries on Monday, the Stamford-based company revealed in a filing with the United States Securities and Exchange Commission.
The South Korean antitrust watchdog reached an identical decision to the one made by the European Commission’s Merger Regulator last week, meaning Samsung and Harman overcame another major hurdle in their efforts to merge as a part of a deal that’s worth approximately $8 billion. To date, Samsung and Harman received authorizations for the merger from regulators in South Korea, Japan, Taiwan, Canada, Colombia, Brazil, Russia, and the European Union.
Additionally, the merger of the two companies was also cleared by the US Committee on Foreign Investment in early February.
The deal is still pending approval from agencies in China and South Africa, Harman revealed in its latest filing with the SEC.
Full Content: Android Headlines
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Canadian Breadmakers Settle Price-Fixing Lawsuit
Jul 25, 2024 by
CPI
EssilorLuxottica Open to Meta as Shareholder, Says CEO Francesco Milleri
Jul 25, 2024 by
CPI
California Supreme Court Upholds Proposition 22, Securing Independent Contractor Status for Uber and Lyft Drivers
Jul 25, 2024 by
CPI
Paramount Global Investor Sues to Block Skydance Media Merger
Jul 25, 2024 by
CPI
Software Vendors Win Class Action Status in Antitrust Case Against CDK Global
Jul 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Trade & Antitrust
Jul 26, 2024 by
CPI
What is Wrong with the WTO Discipline on Subsidies?
Jul 26, 2024 by
CPI
The Abiding Tension Between Trade Remedy Law and Antitrust
Jul 26, 2024 by
CPI
Trade and Antitrust: An End to Isolationism
Jul 26, 2024 by
CPI
International Trade Law and Domestic Regulation of Generative Artificial Intelligence: Divergent Approaches?
Jul 26, 2024 by
CPI