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Harman to Be Acquired for Nearly $8 Billion

Geoff Duncan
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Audio equiment maker Harman International—makers of Harman-Kardon, AKG, JBL, Lexicon, Revel, Mark Levinson, and other well-known brands of consumer, auto, and pro audio gear—announced today (PDF) the company will be acquired by private equity fims Kohlberg Kravis Roberts & Co (KKR) and Goldman Sachs Group’s private equity firm for about $8 billion.

Under the deal, Harman stockholder would receive about 4120 in case for each share they own, which is a 17 percent premium over Harman’s closing stock price on April 25. As an alternative, stockholders could opt to exchange some or all of their stock for shares in the new company to be formed by KKR and GS Capital Partners.

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Although Harman may solicit other bids until June 15, but the deal is widely expected to go through without opposition.

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Geoff Duncan
Geoff Duncan
Former Digital Trends Contributor
Geoff Duncan writes, programs, edits, plays music, and delights in making software misbehave. He's probably the only member…
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