Who benefits from the leverage in LBOs?
Tax savings associated with increased levels of debt are often thought to be an important source of returns for private equity funds conducting leveraged buyouts (LBOs). However, as leverage is available to all bidders, the vendors may appropriate any benefits in the form of the takeover premium. Fo...
| Main Authors: | , |
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| Format: | Working paper |
| Language: | English |
| Published: |
SBS
2011
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