Making news in publications covering everything from money to motorcycles, Harley-Davidson hogged the headlines with rumors of a possible hostile buy-out from an investment firm.

From the brokers on Wall Street to the bikers on Main Street, everyone was talking about the possibility that the legendary Milwaukee motorcycle manufacturer could be the target of a leveraged buy-out from private-equity giant Kohlberg Kravis Roberts.

As far as the quality of news reporting was concerned, the rumor had legs with even established and respected Rueters reporting, 'The speculation started early, with traders in Frankfurt citing market talk that the private equity firm Kohlberg Kravis Roberts was a potential bidder for the company — talk KKR declined to knock down'.

"We never comment on deal speculation," Peter McKillop, director of corporate communications at Kohlberg Kravis Roberts, told FOX Business.com.

And while Reuters said that the motorcycle company declined to comment on the rumors, they did report that at least one analyst considered such a deal “highly unlikely.”

And now, the news cycle and rumor mill is silent.

Any Harley-Davidson or motorcycle enthusiast worth their salt knows history has shown a buy-out is possible. In 1969 man was feeling confident about landing on the moon, the Vietnam War was in full swing and American Machinery and Foundry (AMF) bought Harley-Davidson, streamlined production, and slashed the workforce.

This tactic resulted in a labor strike and a lower quality of bikes which couldn’t compete against the inexpensive, better made Japanese motorcycles riding onto American shores for the first time. The company would struggle under the ownership of AMF until 1981, when Harley-Davidson was sold to a group of thirteen investors led by Vaughn Beals and Willie G. Davidson for $80 million, taking its present day form.

But if we are to look to history as an indicator of future events, then consideration should be given to the headline from Forbes magazine dated June 22nd 2007, 'Harley-Davidson Roars on Takeover Rumor'.

The well respected financial magazine wrote in the news story from 2007, 'Harley-Davidson rumbled north on Friday amid dubious rumors that Honda was ready to purchase the motorcycle maker. However, despite the investor euphoria over the prospect of a Honda-Harley merger, there's a slim chance that Honda will follow through because of regulatory hurdles'.

Then as with the recent rumors, Harley-Davidson's stock rose on the news. Yesterday the company saw its stock price rise 6.98 percent while they only got a 4.2 percent bump in 2007. But then again, the motorcycle company's stock was trading at $62 in 2007 compared to its recent high of $28.

So is the rumor true or false? There are only a handful of people that truly know the answer to that question.

However, many observers cynically note that the buy-out rumors have managed to push aside the other Harley-Davidson headlines, if only temporarily, over the six million dollar CEO compensation for 2009 and industry reports that two offers for the disbanded Buell brand were rejected.

And understanding that motorcycle enthusiasts loyal to Harley-Davidson tend to be 'straight-shooters' who don't like their beloved brand tinkered with, there appears to be a rocky road ahead for somebody.