Word: kohlberg
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...Texas oilman T. Boone Pickens attacked Gulf Oil in 1984, forcing the energy giant to merge with Chevron and earning nearly $400 million from his seven-month raid. Later Milken bankrolled Carl Icahn in a $1.2 billion takeover of TWA. Supported by Drexel's bonds, the little-known firm Kohlberg Kravis Roberts became America's buyout king, acquiring 35 companies for more than $60 billion since...
...launched the bidding for his own company and stood to make more than $100 million if he prevailed, is described as "a man who devoted his life to shaking things up" and an executive "loyal to little but his own whims." Johnson's nemesis, buyout expert Henry Kravis of Kohlberg Kravis Roberts, was so obsessed with conquering RJR Nabisco that he entered the battle knowing little of substance about the giant food-and-tobacco company...
...involvement with outside LBOs and venture capital firms has also come into question, particularly after one of the partnerships--Wall Street-based Kohlberg, Kravis, Roberts and Company--took over tobacco and consumer goods producer RJR-Nabisco at a time when the University was questioning its public investments in the company...
...bankruptcy blues had already struck another takeover team, go-getting Kohlberg Kravis Roberts. Hillsborough Holdings, a Tampa-based building- supplies company formed by KKR in 1988, filed for Chapter 11 protection last week. Although two smaller KKR companies, Seamen Furniture and SCI Television, are also in financial straits, Hillsborough's filing is the first for a large KKR unit. The holdings firm reported liabilities of $347.6 million against assets of $304.2 million...
...million on the deal but failed to show much sympathy for the employees who might be transferred or laid off. They had, he said, "very portable types of professions." RJR's board decided Johnson did too. They fired him, after selling the company instead to leveraged-buyout specialists Kohlberg Kravis Roberts...