The private equity buyers of Harman International Industries Inc are balking at completing the $8 billion purchase of the audio-equipment maker, the Wall Street Journal reported in its online edition on Friday, citing people familiar with the matter.
Kohlberg Kravis Roberts & Co LP and Goldman Sachs Group Inc.'s private equity arm agreed in April to buy Harman.
KKR's lead partner Henry Kravis and other investors in the deal have soured on the transaction amid a credit crunch and lackluster financial results from Harman, the report said, citing people familiar with the matter.
The buyers have come across new information that makes them less sanguine about the deal, the report said, citing one of the people familiar with the matter.
It is unclear what that information is, or whether it could have direct bearing on breaking the deal or would be used to negotiate a lower purchase price, the report said.
Harman, KKR and Goldman Sachs were not immediately available for comment.