Active Investors, Lbos, and the Privatization of Bankruptcy

  title={Active Investors, Lbos, and the Privatization of Bankruptcy},
  author={Michael C. Jensen},
  journal={Harvard Business School: Negotiation},
  • Michael C. Jensen
  • Published 1989
  • Harvard Business School: Negotiation
  • From the 1960s to the 1980s the corporate control market generated considerable controversy, first with the merger and acquisition movement of the 1960s, then with the hostile tender offers of the 1970s and most recently, with the leveraged buyouts and leveraged restructurings of the 1980s. These control transactions are the manifestation of powerful underlying economic forces that, on the whole, are productive for the economy. Thorough understanding is made difficult by the fact that change… CONTINUE READING
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