HP $1.05 billion acquisition of Samsung printer business

Overview:

• HP has agreed to acquire Samsung Electronics' (Samsung) printer business for $1.05 billion. 
• As part of the purchase agreement, according to Bloomberg, Samsung will buy $100 million to $300 million worth of HP shares on the open market after the acquisition completes.
• The acquisition is the biggest since HP split from Hewlett Packard Enterprise last year.
• The transaction is subject to customary regulatory and other closing conditions, and is expected to close in the second half of 2017. 
• Paul, Weiss, Rifkind, Wharton & Garrison (Toby Myerson, Tarun Stewart) represented HP.
• Cleary Gottlieb Steen & Hamilton (Sang Jin Han) represented Samsung.

Wai-Yee Tsang - Journalist - Asia-Pacific