Harman buyers concerned about deal: source
Kohlberg Kravis Roberts & Co LP and Goldman Sachs Group Inc.'s private equity arm are worried about certain financial conditions inside Harman International Industries Inc, concerns that could threaten the $8 billion deal, a source said on Friday.
The concerns stemmed less from broad credit market worries and more from internal conditions within the company, said the source, who is familiar with the matter but did not want to be identified.
The Wall Street Journal first reported that the buyers are balking at the deal, sending Harman's shares down 15 percent on Friday.
KKR and Goldman declined to comment. Harman did not return a call seeking comment.
© Copyright Thomson Reuters 2024. All rights reserved.
Join the Discussion
Editor's pick