Samsung Electronics says to acquire U.S. appliances maker Dacor
- Donald Trump Sworn in as 45th U.S. President
- U.S. stocks pare gains after Trump's inaugural speech
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Herbalife (HLF) Says SEC Requested Documents on Anti-Corruption Compliance in China; Reviewed with DoJ
The logo of Samsung Electronics is seen at its headquarters in Seoul, South Korea, July 4, 2016. REUTERS/Kim Hong-Ji
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
SEOUL (Reuters) - South Korean tech giant Samsung Electronics Co Ltd said on Thursday it will acquire U.S.-based luxury appliances maker Dacor Inc, seeking to boost high-end product sales.
Samsung said in a statement it will keep Dacor's brand name and leave its operations unchanged following the acquisition. The company did not disclose financial terms. The Korea Economic Daily said Samsung paid $150 million to buy the California-based company.
Researcher Traqline says Samsung was the top home appliances maker in the United States during the second quarter with a 16.7 percent market share, beating out rivals such as LG Electronics Inc and Whirlpool Corp.
(Reporting by Se Young Lee; Editing by Richard Pullin)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rite Aid (RAD)/Walgreens (WBA) Antitrust Concerns Doesn't Mean Deal is Dead, Says Deutsche Bank
- U.S. housing regulators suspend plans to cut mortgage premiums
- Canada's Competition Bureau reaches deal with Apple, publishers
Create E-mail Alert Related CategoriesReuters
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!