Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Monday, October 22, 2007

KKR and Goldman Negotiate Settlement of Harman LBO

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.

http://lawprofessors.typepad.com/securities/2007/10/kkr-and-goldman.html

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