Samsung to Buy eMagin for About $218 Million
May 17 2023 - 9:41AM
Dow Jones News
By Colin Kellaher
OLED microdisplay maker eMagin Corp. said Wednesday it agreed to
be acquired by a unit of South Korean technology giant Samsung
Electronics in a deal valued at about $218 million.
Under the agreement, Samsung would pay $2.08 a share in cash for
eMagin, a roughly 10% premium to Tuesday's closing price of $1.89
for the Hopewell Junction, N.Y., company.
The deal is slated to close in the second half of the year.
Trading in shares of eMagin was halted premarket on
Wednesday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 17, 2023 09:26 ET (13:26 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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