Samsung has offered $112 per share in cash for Harman, a 28% premium to the target company's closing price on Friday—and the price may have been boosted by Harman’s acquisition strategy. Purchases since the start of last year include Symphony Teleca (tech services), Red Bend (software management for connected devices) and TowerSec (automotive cybersecurity). Samsung shares traded down 2.8% on the news, with Harman closing up 25% at $109.72. The deal is expected to close in 2017.
In 2007, KKR and Goldman Sachs backed out of an $8 billion purchase of Harman amid global credit concerns. Reports at the time indicated the investors were also concerned with the company's financials.