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South Korea: Antitrust watchdog clears Samsung-Harman merger

 |  February 28, 2017

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.

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