Samsung targets major M&A in 2024 with a cash reserve of $59.07 billion

New reports state that Samsung Electronics has increased its cash reserve by over 40 trillion won (US$29.56 billion) in just one year and now the firm is focusing on large-scale mergers and acquisitions (M&A) in 2024 with these ultimate reservings.

At the financial results conference in January 2021, the South Korean tech giant said that the company would pursue significant M&As within the next three years. Keeping its word, it seems as if Samsung has a plan for a major M&A with the amazing cash reserve that should be unveiled by next January.

It is worth mentioning that in the first half of this year, the dividend payout from Samsung Electronics’ overseas subsidiaries to the South Korean headquarters amounted to 21.85 trillion won ($16.15 billion), a staggering 158 times more than the previous year of 1.38 billion won ($101.89 million).

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(Via)