Samsung Electronics competes for Johnson Controls' heating, ventilation, and air conditioning (HVAC) products.

Quick Summary:

If Samsung takes over the HVAC businesses from Johnson Controls that produces HVAC, fire and security equipment for buildings, it would mark its first acquisition deal following the $8 billion purchase of the US-based Harman International in 2017 as its wholly owned subsidiary.

Samsung Electronics Co.has joined the race to buy Johnson Controls International’ heating, ventilation and air conditioning (HVAC) assets worth over $6 billion, according to a Reuters report.

The report came less than a week after Han Jong-hee, chief executive of Samsung Electronics said at an annual general shareholder meeting that the company has made significant progress in a new M&A deal and would share the details with shareholders sooner rather than later.

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Article Details

Category: Economy

Markets: South KoreaJapan

Topics: Market Controls Business Hvac Samsung Report Deal Johnson Electronics Billion Businesses

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-03-25 @ 16:51:41 (1 months ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 446 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 19 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 20511075

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