Biography|Dinesh Paliwal — Samsung Closed the Eight-Billion-Dollar Purchase Here

The sale that ended Harman's life as a listed company was dated from two cities at once.

Seoul and Stamford both sit on the 10 March 2017 completion release.

Samsung Electronics paid $112 a share in cash, an equity value of about $8 billion, for the company Paliwal had run since 1 July 2007.

The agreement had been announced on 14 November 2016.

Stockholders approved it. Regulators cleared it. Trading in HAR on the New York Stock Exchange stopped before the open on 13 March 2017.

Harman would operate as a standalone Samsung subsidiary. The workforce, the Stamford headquarters, the factories, and the consumer and professional audio brands were to stay.

Paliwal stayed as CEO and as a director. Young Sohn of Samsung took the chair of Harman's new board.

He remained in the job until 31 March 2020, then served as senior advisor through December 2020.

Michael Mauser succeeded him on 1 April 2020.

The number that matters on this pin is not the later career at KKR or the Nestle board.

It is $112 a share, paid here, for a company whose corporate floor he had opened eight years earlier in the same tower.

400 Atlantic Street is still the public U.S. address.

The ticker is not.

Photo: Dshewch, CC BY-SA 3.0, via Wikimedia Commons (portrait, 2009).

Photo: Richter Frank-Jurgen, CC BY-SA 2.0, via Wikimedia Commons (portrait at Horasis, 22 November 2010).