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Masterminding the Deal by Roger Mills, Peter Clark

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APPENDIX B

Debunking the extreme acquisition leverage fallacy

RELATED CHAPTERS AND PARTS:

2.2   Significant increases to target company’s debt levels do not significantly reduce the probability of the related deal’s success

7.3   A key category-based net realizable synergy investigatory framework approach

Chapter 2, part 2 explores how the misapplication of a refinancing technique designed to deal with a temporary condition of underleverage in a few companies in the early 1980s, in later years result in the targets sometimes being significantly worse off because of the effects of the commercial and financial consequences of destabilizing debt.1 Today, those acquirers misapplying such HLT techniques are primarily private equity firms. Traditional ...

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