Auto parts giant Magneti Marelli is a subsidiary of Fiat Chrysler. It was first reported last year that Samsung Electronics was interested in acquiring Magneti Marelli because of the latter’s entertainment, telematics, and lighting capabilities. Talks were reportedly progressing nicely but Samsung then had to put the deal on the back burner because it had to deal with the Galaxy Note 7 fiasco.
The last we heard about this deal was three months ago when it was reported that Samsung had given up on the Magneti Marelli acquisition. One of the reasons why it apparently gave up was because the company ended up acquiring Harman International for $8 billion. According to a new report, Samsung may not have given up on Magneti Marelli just yet.
It’s interesting to note that Samsung Electronics Vice Chairman Lee Jae-yong, who currently finds himself behind bars on allegations of bribery, is a board member of Exor which is a holding company of Fiat Chrysler. It’s because of his presence on the board that Samsung Electronics and Fiat Chrysler are believed to have an amicable relationship. The two companies can’t seem to agree on a price for Magneti Marelli.
Samsung is believed to be offering 1 trillion won ($884.96 million) for the company while Fiat Chrysler is asking for 3 trillion won ($2.65 billion). Samsung reportedly put off the price negotiations after the acquisition of Harman and the bribery scandal that has left a leadership vacuum at the company.
It’s unclear how Samsung would go through with something as big as this while its leader spends his time in a jail cell. All this report tells us is that this isn’t the last time we’re hearing of a possible acquisition of Magneti Marelli by Samsung Electronics.
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