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Darden University of Virginia (USA)
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Harman International and KKR (A)
Simko, Paul J.; Dickerson, DarenCase DARDEN-C-2305-EAccounting and ControlWhen courted by KKR, Harman International was experiencing robust times. After several months of due diligence performed by KKR and its financial and legal partners, KKR announced that Harman International had agreed to be acquired in a private equity transaction valued at $8 billion. But by the time the documents pertaining to the Harman International/KKR transaction were on the table, the financial markets that had ridden on the enormous moment...Starting at €8.20
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Harman International and KKR (B)
Simko, Paul J.; Dickerson, DarenCase DARDEN-C-2311-EAccounting and ControlThis case provides the outcome of the scenario provided in the (A) case, C-2305, as KKR tries to get out of the deal with Harman due to its declining profit margins. At stake for KKR is the $225 termination fee. The drama abruptly ends when KKR agrees to invest in Harman after trying and failing to be able to use a MAC provision and fearing the distraction of a lengthy court battle. Harman then announces the establishment of a new management team...Starting at €5.74