The Lucrative World of Management Buyouts: Warnings fail to dim LBO dazzle

Funds galore for LBO prospects | Tax snags of a global buyout | Europe is the next frontier | Some examples of recent MBOs | UK buyouts grow in complexity | Managers who succeed as bosses | Spawn of an era: specialist firms 

Danger lies ahead for the profusion of leveraged buyouts engineered during the 1980s by American companies and their bankers. During the past four years, conditions have been absolutely ideal for LBOs, with borrowing costs declining steadily and equity prices climbing to new peaks.