Dodging Bullets
Subtitle: Changing U.S. Corporate Capital Structure in the 1980s and 1990s
Edition: 1st edition
Publisher: The MIT Press
Published: December 3, 1999
Language: eng
Format: Hardcover
Number of pages: 427
ISBN-13: 9780262133517
Subjects: Corporate Finance; Industry & Industrial Studies; c 1980 to c 1990; c 1990 to c 2000; Consolidation and merger of co; Corporate Mergers And Acquisitions; Industries - General; Business & Economics; Business / Economics / Finance; Corporations; Business/Economics; USA; Consolidation and merger of corporations; Finance; Business & Economics / Finance; 20th century; History; Leveraged buyouts; United States
First sentence: The end of the 1980s brought big news in U.S. corporate finance no less than in international affairs.
Description: "The late 1980s saw a huge wave of corporate leveraging. The U.S. financial landscape was dominated by a series of high-stakes leveraged buyouts as firms replaced their equity with new fixed debt obligations. Cash-financed acquisitions and defensive share repurchases also decapitalized corporations.

This trend culminated in the sensational debt-financed bidding for RJR-Nabisco, the largest leveraged buyout of all time, before dramatically reversing itself in the early 1990s with a rapid return to equity."--BOOK JACKET.

"This entertaining summary of the broad reshaping of U.S. corporate finance in the last decade and a half looks at three major issues: why corporations leveraged up in the first place, why and how the leverage wave came to an end, and what policy lessons are to be drawn."--BOOK JACKET.