Harman International Industries (HAR 110.05) agreed to be acquired by Samsung, South Korea for $112.00 per share all cash. The deal is 27.8% above Harman’s Friday closing price. Both boards of directors have unanimously approved the merger. The transaction, which is subject to approval by Harman shareholders, regulatory approvals and other customary closing conditions, is expected to close in mid-2017. The purchase price is noticeably below my Min Sell Price of 129.33, but the offer seems quite fair to Harman shareholders.
Since the expected closing date is six to eight months away and the agreed upon price is less than $2.00 above the current price, I recommend selling your Harman shares now. I doubt that another offer will materialize. SELL.