Arny Krueger
April 26th 07, 04:47 PM
http://www.smartmoney.com/bn/ON/index.cfm?story=ON-20070426-000818-0941
"Harman International Industries Inc. (HAR) said it agreed to by acquired by
private-equity firms Kohlberg Kravis Roberts and GS Capital in a deal valued
at $8 billion.
"Under terms of the deal, Harman shareholders can elect to exchange their
shares for $120 a share in cash, or shares of the new company after the
closing of the deal, which is expected to occur in the third quarter of
2007.
http://www.harman.com/press/pdf/harman-kkr.pdf
"WASHINGTON, April 26, 2007 - Harman International Industries, Inc. (NYSE:
HAR) today announced that it has entered into an agreement to be acquired by
affiliates of Kohlberg Kravis Roberts & Co. L.P. ("KKR") and GS Capital
Partners
("GSCP") in a transaction valued at approximately $8 billion. The
transaction
was unanimously approved by the Harman Board of Directors, following the
recommendation of a Special Committee of independent directors. KKR
initiated
discussions with Harman and structured the transaction so that current
Harman
stockholders have the opportunity to participate in the future upside
potential of
the enterprise. The company will continue to be named Harman International
Industries and Dr. Sidney Harman, Founder and Executive Chairman, will
remain
Executive Chairman.
"Harman International Industries Inc. (HAR) said it agreed to by acquired by
private-equity firms Kohlberg Kravis Roberts and GS Capital in a deal valued
at $8 billion.
"Under terms of the deal, Harman shareholders can elect to exchange their
shares for $120 a share in cash, or shares of the new company after the
closing of the deal, which is expected to occur in the third quarter of
2007.
http://www.harman.com/press/pdf/harman-kkr.pdf
"WASHINGTON, April 26, 2007 - Harman International Industries, Inc. (NYSE:
HAR) today announced that it has entered into an agreement to be acquired by
affiliates of Kohlberg Kravis Roberts & Co. L.P. ("KKR") and GS Capital
Partners
("GSCP") in a transaction valued at approximately $8 billion. The
transaction
was unanimously approved by the Harman Board of Directors, following the
recommendation of a Special Committee of independent directors. KKR
initiated
discussions with Harman and structured the transaction so that current
Harman
stockholders have the opportunity to participate in the future upside
potential of
the enterprise. The company will continue to be named Harman International
Industries and Dr. Sidney Harman, Founder and Executive Chairman, will
remain
Executive Chairman.