Moving directories between repositories -> preserve history?

Summary

We need to move a directory from one repository to another. Is there any formal / legal / other reason to preserve the commit history? We need guidance for best practice.

Option: copy full history

I don't think I have ever seen such a PR with full history in open source projects, but maybe I'm wrong. In this concrete example we are talking about putting 232 commits which we would push into one PR to the new repository.

Option: copy directory as-is

• Create a single commit with 30k lines. Review is performed by comparison.
• The commit message references the old location (incl history) on GitHub.
• Add "Also authored by" with all the authors who have ever contributed to said directory.