Friday, April 27, 2007

Harman to be bought by private equity firms for $8 billion

No, not Rep. Jane Harman, silly. Her husband's company, a DC-beltway-based maker of high-end sound equipment.

Founder Sidney Harman, 88, will come out of the deal with about $400 million in cash. Harman, who is married to Rep. Jane Harman, D-Calif., will remain as chairman. He has a 5 percent share of Harman stock and plans to roll over about half into the new company.

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