O’Melveny, Goodwin, White & Case in Samsung-eMagin merger

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Three firms counsel Samsung Display and eMagin
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Three firms counsel Samsung Display and NYSE-listed eMagin in an agreement for the subsidiary of Samsung Electronics specialising in display products to acquire the American company for a USD218 million cash merger.

O’Melveny & Myers assisted Samsung Display, while two firms White & Case and Goodwin Procter advised eMagin, an American organic light-emitting diode (OLED) microdisplay manufacturer.

eMagin shareholders will accept USD2.08 per share, representing a premium of roughly 10% to the company’s closing stock price of USD1.89 on 16 May, and a premium of approximately 24% to its six-month volume-weighted average price of USD1.68.

The American tech company boasts the top position in OLED microdisplays, facilitating the display of digital data and visuals for top-notch clients in the military, consumer, medical and industrial sectors.

The O’Melveny team was led by partner and Korea corporate practice head Daniel Kim in Seoul, M&A partners Brad Finkelstein in Silicon Valley and Noah Kornblith in San Fransisco, and Seoul-based counsel Park Hae-in. White & Case did not disclose details of the team involved in the deal.

Goodwin’s team was led by partners Jocelyn Arel in Boston and Michael Patrone in New York, with support from counsel Will Wang in New York and Achal Oza in Boston, partners Liza Craig and Paul Jin in Washington, and Alexandra Denniston in Boston.

Associate Alice Choi in Philadelphia and New York-based associates Will Stanton, Jason Yeoun, Lauren Paylor, and Tiffany Williamson, as well as associate Jonathan Elefant in Washington, also helped with the transaction.

The transaction is expected to close in the second half of 2023, subject to the approval of eMagin’s stockholders, receipt of other applicable regulatory approvals, and other customary closing conditions. eMagin will continue to maintain its operations and facilities in New York.

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