Monday, October 22, 2007

LBO: KKR, Goldman cancel Harman deal

by Bill McBride on 10/22/2007 10:44:00 AM

From MarketWatch: KKR, Goldman cancel Harman deal, to invest $400 mln

[KKR] and Goldman Sachs will cancel their $8 billion takeover for Harman International but invest $400 million in convertible notes ... KKR and Goldman won't be sued and won't have to pay a termination fee under the agreement struck.
A pretty clean exit for KKR and Goldman. No pier loans here.

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