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Harman Denies Buyout

July 22, 2009 By Stephen Silver
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Harman International this week denied reports that it had received a buyout bid from a Middle Eastern investment firm. According to the New York Times, several news organizations received a fax last week that a possibly fictitious firm, Arabian Peninsula Group, was planning a takeover bid.

"The Company has not received such communications and is not familiar with any parties claiming to make such a solicitation," Harman said in a statement posted to its Web site.

A pair of private-equity firms, Kohlberg Kravis Roberts and the private-equity division of Goldman Sachs, walked away from plans to buy out Harman in 2007.
 

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