Harman Approves Merger With Samsung

Shareholders of US auto parts supplier Harman International voted to allow the purchase of the company by tech giant Samsung. According to the US Securities and Exchange Commission, 67 percent of the shareholders of Harman International voted in favour of the merger.

Only 70.78 percent of Harman's common shares were represented at the shareholders meeting, but that was enough to approve the deal, which is worth $8 billion. This is Samsung's largest-ever buyout and first major purchase since the company's heir apparent, Vice Chairman Lee Jae-yong, joined the board.