Harman/Levinson/Proceed/Lexicon/Revel/ Deal Busted

Two Private Equity Firms Back Out of $8 Billion Buyout of Audio Equipment Maker Harman International.

http://biz.yahoo.com/ap/070921/harman_buyout.html?.v=20

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sugarbrie09-22-2007 12:49am

jameswei Details Discussions Posts This discussion Message User 883 posts 09-22-2007 at 03:44am Copy Comment URL Report Comment Edit Delete Makes me wonder what was the "material adverse development"? Could it have been Tweeter's demise? or, did business suddenly fall off a cliff? or, maybe they lost a big contract with an automaker?
jameswei Details Discussions Posts This discussion Message User 883 posts 09-23-2007 at 02:21am Copy Comment URL Report Comment Edit Delete My benchmark for deals was 6x Enterprise-Value-to-EBITDA, financing rates aside.