Participation in Exor Board Meeting
Report has it that Samsung Electronics Co.’s Vice Chairman Lee Jae-yong is going to attend a meeting of the board of directors of Exor, a holding company of Fiat Chrysler Automobiles (FCA). As Samsung is pushing to acquire of Magneti Marelli, an auto parts unit of FCA, much attention is paid to whether Samsung will be in talks with FAC about M&A.
According to industry sources on August 25, Exor will hold a board meeting to approve the settlement of accounts for the first half of the year.
Vice Chairman Lee will attend the meeting as an outside director of Exor unless there is a good reason for absence. He is highly likely to do so this time unless urgent issues happen. Whenever he goes to the board meeting, he has met major client companies.
The industry expects that Vice Chairman Lee could make additional discussions with the local management about the acquisition of Magneti Marelli, which is owned 100 percent by FCA.
There is an analysis that “The gap between the two companies in terms of the price tag is so wide that the deal is actually halted,” but the South Korea’s leading electronics company said that “Such a decision cannot be easily made.”