HP Inc. (NYSE:HPQ) reached an agreement to acquire S-Printing Solution Corp. from Samsung Electronics Co. Ltd. (KOSE:A005930) for $1.1 billion on September 12, 2016. Under the agreement, Samsung Electronics Co. Ltd. will source printers from HP Inc. and continue to market in Korea under the Samsung brand. For the year 2015, S-Printing Solution Corp. generated revenue of KRW 2 trillion ($1.7 billion). Current 6,000 employees of S-Printing Solution Corp. will be employed by HP Inc. All the employees and executives are promised an employment succession and employment guarantee of five years. The transaction is subject to approval of Samsung Electronics Co. Ltd' shareholders, regulatory approval and anti-trust approval. The transaction was approved by the Board of Directors of Samsung Electronics Co. Ltd. The shareholders of Samsung Electronics Co. Ltd. approved the transaction on October 27, 2016. As of April 5, 2017, the transaction received the approval of EU Commission. As of April 28, 2017, the Competition Commission of India approved the transaction. As of October 6, 2017, the Ministry of Commerce of the People's Republic of China approved the transaction. The transaction is expected to close within one year. As of November 1, 2016, the transaction is expected to close in second half of 2017. As of July 3, 2017, the transaction is expected to be completed in August 2017. As of August 31, 2017, the transaction is expected to be completed during the fourth quarter of 2017.

Vince Mercier, Gillian Stacey, David Kim, Raj Juneja and Jessica Bullock of Davies Ward Phillips & Vineberg LLP, Toby Myerson, Tarun Stewart, Monica Thurmond, Tong Yu, Roberto Gonzalez, Andrew Gordon, Alex Oh, Joseph Simons, Jennifer Wu, Richard Elliott, Peter Jaffe, Claudine Meredith-Goujon, Menachem Kaplan, Andrew Gaines, Mitchell Berg, David Mayo, Jeffrey Samuels and William O'Brien of Paul, Weiss, Rifkind, Wharton & Garrison LLP, Naval Satarawala Chopra, and Aparna Mehra, Ritwik Bhattacharya, Supritha Prodaturi, and Sapan Parekh of Shardul Amarchand Mangaldas & Co and Steven Sunshine, Frederic Depoortere and Maria Raptis of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisors to HP Inc. Sang Jin Han, Kelly Hyunsoo Jin, Jiun Kim, Leonard Jacoby, Daniel Forester, Lilia Stantcheva, Jake Morrison, John McGill and Guillaume Le Masson, Robbert Snelders, Mark Nelson, Kenneth Reinker, Niklas Maydell, Michael Ruthenberg-Marshall, Samuel Park, Paul Marquardt, Victor Hou, James Corsiglia, Jonathan Amgott, Jason Factor, Corey Goodman, Kevin Swartz, Arthur Kohn, Caroline Hayday, Philip Davies, Heejin Choi, Steven Horowitz, Connie Chang, Daniella Jones and Rick Bidstrup of Cleary Gottlieb Steen & Hamilton LLP acted as legal advisors for Samsung Electronics. Matteo Ciminelli, Fabrizio Spagnolo, Italo de Feo, Francesco Di Luca, Valérie Ruotolo, Veronica Mazzaferro, Chris Watson, Paul Silver, Adam Beach, Katia Ramo, Stuart Blythe, Nick Kuria, Joe Ladusans, Anthony Fincham, Pranav Yajnik, Richard Croker, Richard Taylor, Olivia Jamison, Valentina Keys, Aurélie Parchet, Thierry Granier, Anne Cadet, Mina Bouharchich, Anne-Laure Villedieu and Milena Oliva of CMS and Broad & Bright acted as legal advisors for HP Inc. CMS Hasche Sigle acted a s legal advisor to HP Inc. (NYSE:HPQ).Gillian R. Stacey, Raj Juneja, Gillian R. Stacey, Jessica Bullock and David Kim from Davies Ward Phillips & Vineberg LLP acted as legal advisor to HP Inc. Kim & Chang acted as legal advisor to HP Inc. Ernst & Young acted as financial advisor to HP Inc. Morgan Stanley acted as fairness opinion provider to HP Inc