Paul Hastings has advised South Korean electronics major Samsung Electronics on its $8 billion acquisition of U.S. automotive tech company Harman International Industries, which was represented by Wachtell, Lipton, Rosen & Katz.
According to Reuters, the transaction marks the biggest overseas acquisition ever by a South Korean company. The transaction highlights Samsung’s efforts to break into the high-barrier automotive industry where it has little track record and also marks a strategic shift for the electronics company, which has previously shunned big acquisitions.
The Paul Hastings team was led by the firm’s global M&A practice chair Carl Sanchez and Daniel Kim, head of the firm’s Korea corporate practice.Paul Hastings has also advised on previous Samsung deals including the acquisition of luxury appliance brand Dacor, and Corning’s fiber optics business.
