For a rollicking good read, don’t miss Jeff Matthews’ post on KKR pulling out of the Harman International Industries deal last week:

Now, you might think that someone of Mr. Kravisí stature in the Private Equity business would recognize a bad decision when he saw it, honor his commitments and move on.
But no, the Journal reported: KKR not only wanted to break the Harman deal, but they apparently wanted help from the bankers in paying the termination fee.

Don’t miss the entire post. Highly entertaining.