Samsung Electronics to buy Harman for $8 bln

Samsung Electronics has agreed to buy Harman International Industries for $112 a share cash or about $8 billion. Harman, of Stamford, Connecticut, is known for its car audio systems. In 2007, two buyout shops, KKR and Goldman Sachs PE arm, famously pulled out of their $8 billion acquisition of Harman, citing a “material adverse change” in the company’s business, Reuters reported at the time. Evercore provided financial advice Samsung, while Paul Hastings LLP was legal counsel. J.P. Morgan and Lazard served as financial advisors to HARMAN and Wachtell, Lipton, Rosen & Katz acted as legal counsel.

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