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General Asylum General audio topics that don't fit into specific categories. |
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General Asylum General audio topics that don't fit into specific categories. |
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In Reply to: Harman International to be Sold to KKR/Goldman Sachs posted by bondmanp on April 26, 2007 at 06:15:41:
Existing shareholders have a choice between tendering theire shares for cash or for shares in a new company, which will be controlled by KKR and the shares of which will not be listed on any public exchange. However, there is a cap to the percentage of shares of the new company that will be exchanged to the current shareholders.This seems to be giving KKR control of the company to do with it what they will to "dress it up" for a sale to someone else. My guess is that dressing it up will include the sale or spinoff of some divisions that are relative underperformers.
And my further guess is that the divisions doing high-end home audio would be at the top of that list. They may be performing o.k. from a financial standpoint, but the growth opportunities for them would appear to be close to zero. The only issue is whether the "halo effect" from them helps drive the sale of big-ticket stuff like Harmon-Kardon car stereos, which is where the company does a lot of business.
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Follow Ups
- interesting deal, not necessarily a breakup - Bruce from DC 12:39:16 04/26/07 (8)
- I'll bet the board was unanimous, they'll all sell their shares - risabet 16:56:11 04/26/07 (6)
- Re: I'll bet the board was unanimous, they'll all sell their shares - theaudiohobby 02:00:52 04/27/07 (5)
- The sacred precept of Captalism ... - Feanor 14:07:28 04/28/07 (0)
- Your comment applies to the Mafia with equal validity. - Al Sekela 10:44:25 04/28/07 (0)
- I think this attitude sucks - Charles Hansen 18:30:04 04/27/07 (0)
- That is a paradigm that is in desperate need - risabet 07:48:31 04/27/07 (1)
- Indeed, you are correct... - rlw 07:57:34 04/27/07 (0)
- That press release is in keeping with the highest traditions - Bruce Kendall 14:44:27 04/26/07 (0)
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