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January 1989, No. 17

Leveraged buyouts (LBOs) are still only 7 to 8% of all merger and acquisition (M&A) deals done in the U.S. Yet, by dollar value they now constitute more than 20% of all M&A activity.

Last Updated: 01/31/1989

Buyouts and Bondholders

Diana L. Fortier

The absolute and relative dollar values of LBOs increased significantly in 1986 and have continued at a high pace. Indeed, the recent RJR Nabisco LBO, at nearly $25 billion, exceeds the annual value of all LBOs for 1984 and 1985.