Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

Merger announcement

17th Sep 2010 09:33

RNS Number : 8751S
Samsung Electronics Co. Ld
17 September 2010
 



Merger between Samsung Electronics and Samsung Gwangju Electronics

 

On September 17, 2010, the BOD of Samsung Electronics announced it is seeking to merge with Samsung Gwangju Electronics Co., Ltd. as part of a measure to improve the management efficiency and manufacturing competitiveness of the home appliance business.

 

The merger, expected to be signed on October 29, 2010, will go into effect from January 4, 2011, once the transaction is approved at the shareholders meeting of Samsung Gwangju Electronics.

Under the agreement, Samsung Gwangju Electronics will be absorbed into Samsung Electronics, as a business unit responsible for manufacturing appliances. The merger ratio of the two companies is 1:0.0252536 (Samsung Electronics: Samsung Gwangju Electronics).

The merger is intended to enhance shareholder value by maximizing the management efficiency and manufacturing competitiveness of the home appliances business.

 

On September 17, 2010, the BOD of Samsung Electronics decided on the book closure period and the record date for the merger between Samsung Electronics and Samsung Gwangju Electronics. The book closure aims to determine the list of shareholders entitled to exercise the right to dissent.

 

▫ Details

Book closure period: Between October 14 and October 27, 2010

Record date: October 13, 2010

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MERGGURPBUPUURM

Related Shares:

Samsung El.gdr
FTSE 100 Latest
Value8,632.33
Change89.77