Listen to this story
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now0:00
0:00
Loading audio file, please wait.
A deal for the sale of Harman International Industries Inc. might fall apart, The Wall Street Journal reported today.
Harman, which makes audio equipment and is based in Washington, D.C., has a plant in Martinsville called Harman-Becker Automotive Systems. The location slashed 84 of its nearly 500 positions early this year as production moves to a China plant.
Kohlberg Kravis Roberts & Co. and Goldman Sachs Group Inc. said in April they would buy Harman for $8 billion.
The private-equity buyers have cooled on the deal due to the credit crunch and Harman’s weak financial results, the newspapers said, citing unnamed sources.
Please enable JavaScript to view this content.