Samsung eyes major M&A in 2024, cash reserves surge to whopping $59.07 billion

Cash and cash equivalents of Samsung Elec have surged to a whopping $59.07 billion (79.92 trillion won) as of the first half of this year. It represents a remarkable increase of more than double (101.9 percent) over the previous year, with a substantial growth of $29.82 billion (40.34 trillion won).

During its financial results conference call in January 2021, Samsung said, “We would pursue meaningful M&As (large-scale mergers and acquisitions) within the next three years.” Based on this declaration, a plan for a major M&A should be unveiled by next January.

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In some circles, there is talk that Samsung is not making acquisitions due to the absence of suitable companies for purchase. It implies that the company is looking for companies in future growth areas where it can expand its investments and create synergies.

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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