HARMAN INTERNATIONAL INDUSTRIES, INCORPORATED (NYSE:HAR) Files An 8-K Other EventsItem 8.01 Other Events.
On February 23, 2017, Samsung Electronics Co., Ltd. (“Samsung”) received clearance under the EU Merger Regulation from the European Commission, and, on February 27, 2017, Samsung received clearance from the Korea Fair Trade Commission, in connection with its proposed acquisition of Harman International Industries, Incorporated (the “Company”) to the Agreement and Plan of Merger, dated as of November 14, 2016, by and among the Company, Samsung, Samsung Electronics America, Inc., and Silk Delaware, Inc. (the “Merger”).
The parties have also received the required authorizations or approvals for the Merger (or determined such authorizations or approvals are inapplicable) under the applicable regulatory laws of Brazil, Canada, Colombia, Japan, Russia and Taiwan, as well as early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. In addition, as previously disclosed, the Company received clearance from the Committee on Foreign Investment in the United States to proceed with the Merger on February 9, 2017.
The Merger remains subject to other customary closing conditions, including obtaining regulatory approvals in China and South Africa. The parties expect the Merger to close by mid-2017, and, subject to obtaining the remaining regulatory approvals, potentially before the end of the first calendar quarter of 2017.
About HARMAN INTERNATIONAL INDUSTRIES, INCORPORATED (NYSE:HAR)
Harman International Industries, Incorporated is engaged in the designing and engineering of connected products and solutions for automakers, consumers and enterprises, including connected car systems, audio and visual products, enterprise automation solutions and connected services. The Company’s segments include Connected Car, Lifestyle Audio, Professional Solutions, Connected Services and Other. The Connected Car segment designs, manufactures and markets connected car systems for vehicle applications. The Lifestyle Audio segment designs, manufactures and markets car audio systems. The Professional Solutions segment designs, manufactures and markets a range of audio, lighting, video and control, and automation solutions for entertainment and enterprise applications The Connected Services segment includes the operations of Symphony Teleca Corporation, Red Bend Ltd. and its automotive services businesses. Its brands include AKG, AMX, Crown, Infinity, JBL, Revel, Soundcraft and Studer. HARMAN INTERNATIONAL INDUSTRIES, INCORPORATED (NYSE:HAR) Recent Trading Information
HARMAN INTERNATIONAL INDUSTRIES, INCORPORATED (NYSE:HAR) closed its last trading session up +0.19 at 111.62 with 1,011,156 shares trading hands.