Focal said a recent report in Business Korea stating that Samsung is seeking to buy Focal is false.
Both Focal and Samsung corporations denied the report, dated October 25, that said Samsung wished to buy Focal to help strengthen its automotive electronics business.
The companies were rumored to be in the final stages of negotiating a buyout deal worth approximately $175 to $265 million.
Samsung also recently tried unsuccessfully to acquire Bang & Olufsen, said Business Korea.
Focal France said the report is false and it doesn’t know where the information came from, according to Sales Director Arnaud Hendoux.
The report cited unnamed sources that claimed that Samsung Group Chairman Lee Kun-hee, “who is an audio lover,” wanted to buy Focal after listening to its flagship home audio system, the Grand Utopia, which carries a price of over $200,000.
Samsung also denied the report, according to Reuters.