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
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Apple Faces Contempt Hearings Over App Store Reforms
May 19, 2024 by
CPI
T-Mobile Faces Class-Action Lawsuit Over Sprint Merger After Appeal Denied
May 16, 2024 by
CPI
Google Faces Backlash Over Introduction of AI-Generated Summaries in Searches
May 16, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI