Peak practice
Article Abstract:
The market for management buy-outs peaked in the United Kingdom in 1989, but there has been a recovery and the market in 1998 bears some resemblances to that of 1989. Buy-out activity for 1st qtr 1998 was more than for 1st half 1997. There is plentiful funding available and competition has boosted deal prices. Deal structures contain a smaller proportion of equity, while high yield is increasing in importance. An economic downturn could occur in the UK, but it is unlikely to affect the buyout market as seriously as the early 1990s buyout.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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A public to private function
Article Abstract:
Delisting of publicly quoted firms has become more common in the United Kingdom, though such deals have not always led to success in the past. Smalller companies face a lack of liquidity and they have become cheaply valued in relation to fundamentals. These deals may involved management buy-outs, or management buy-ins, where a new management is brought in. Risks may be involved in delisting such as the need for a high level f due diligence.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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