Description
Hostile takeovers. Leveraged buyouts. Di- vestitures. Friendly mergers and acquisi- tions. Corporate recapitalizations. Proxy contests. These are the realities of the corpo- rate world of the 1990s. But why are these rapid transformations happening now? And what does it all mean for us as investors, consumers, taxpayers, employees? Where are these trends dsh headed? In Corporate Makeover, noted economist
Harvey H. Segal explains and analyzes the complex interrelationships that constitute today's war for control over U.S. corpora- tions. Segal probes beneath the bewildering surface of American corporations and iden- tifies the obsolete command structures of autonomous professional managers who wield immense power. He reveals and clari- fies the failure of management to pursue value-maximizing policies, thereby ignoring the primary interest of shareholders. And Segal demonstrates how mismanagement and lower profits lead to "undervaluation," setting the stage for hostile raiders, corpo- rate reorganization, and even bankruptcy.
ISBN:9780670820993
