Harman Stock Offering Could Signal M&A Initiative

MacFadyen, Ken
June 2009
Mergers & Acquisitions Report;6/22/2009, Vol. 22 Issue 25, p4
The article reports that audio products maker Harman International Industries started a follow-on offering, issuing 9 million shares of common stock. The proceeds is expected to repay the company's debt, although Harman said it could allocate a part of the funding to future acquisitions. Analysts at Buckingham Research believe the Harman offering to price at the low end of the company's price per share range. JP Morgan Securities is the sole bookrunning manager for the offering of Harman.


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