Harman deal puts spotlight on stub equity

Newswire

By Jessica Hall and Michael Flaherty PHILADELPHIA/NEW YORK, April 26 (Reuters) - The $8 billion takeover deal on Thursday for Harman International Industries Inc. gives shareholders the chance to keep a stake in the audio-equipment maker and marks a novel move by private equity firms to appease growing resistance from public investors. Although several private equity deals in Europe have offered shareholders the chance to co-invest alongside private investors, the stub equity concept has ...

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