There are too many connections between KKR and First Data through Safewar, Citigroup, and Credit Suisse (yes, the same bank that is in the middle of the deal) for this deal to die that easily. Check out this article http://www.newsvisual.com/newsvisual/2007/09/... . Also, KKR hand picked First Data's CEO a few months back, you should probably take that into consideration http://www.newsvisual.com/newsvisual/2007/07/...
In my opinion the deal will still go down and is not as shaky as some people believe.