Monday, October 22, 2007
KKR and Goldman Sachs terminated its $8 billion takeover for Harman International Industries and avoided both litigation and a $225 million termination fee. The takeover, like so many others, fell victim to the credit crunch. Instead, KKR and Goldman will buy $400 million in convertible debt securities and appoint a representative to the Harman board. WSJ, Harman Takeover Canceled, Fight Avoided.