Word: buyout
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...fashioned a stunning work of art out of a pair of abandoned bicycle handlebars, and Marcel Duchamp achieved similar wonders with a cast-off urinal. Now the folks at Home Box Office have topped them all by making a reasonably watchable movie out of a book about a leveraged buyout: Barbarians at the Gate, which will receive its first showing on HBO this Saturday...
...helped that HBO had a very good book (the 1990 best seller Barbarians at the Gate, by Wall Street Journal reporters Bryan Burrough and John Helyar) and a very big leveraged buyout (Kohlberg Kravis Roberts' epic $25 billion takeover of RJR Nabisco in 1988) to work with. And the $7 million HBO earmarked for the project probably came in handy too. The film remains reasonably faithful to the spirit of the book, while vastly simplifying the plot. Whereas Burrough and Helyar recount a story that involves dozens of rapacious financiers, greedy executives, odious publicists, duplicitous bankers and devious attorneys...
Lewis engineered the rise of TLC through two major buyouts. In 1983, he led a $22.5 million buyout of McCall PatternCo., a dress-pattern maker which he sold to aBritish business four years later for $63 million...
...Lewis collaborated with Drexel BurnhamLambert Inc.'s Michael R. Milken to engineer TLC's$1 billion buyout of Beatrice InternationalCompany, a food products corporation...
...WINDS OF CHANGE -- AND MONEY -- SEEMED CERtain to lift the San Francisco Giants baseball team out of their drafty, weather-beaten stadium and carry them to a new air-conditioned dome and a $115 million buyout offer in St. Petersburg, Florida. Then the wind shifted. Baseball team owners voted 9 to 4 to keep the Giants put, opting for a $100 million counteroffer and a pledge for a new stadium. "It's a game of tradition," trumpeted Chicago Cubs owner Stanton Cook in explaining the vote...