A Book with Legs Bryan Burrough - Barbarians at the Gate
May 20, 2024
Author and journalist Bryan Burrough discusses his classic work 'Barbarians at the Gate,' detailing the high stakes battle for RJR Nabisco. The podcast delves into the complex negotiations of the leveraged buyout, the strategies of major players, and the intense bidding war for acquisition, revealing insights into the captivating Wall Street drama.
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Massive Wall Street Takeover Battle
- The RJR Nabisco takeover was the largest and most complex in American history then.
- It involved all major Wall Street funds and captivated business world's attention for months.
Ross Johnson's CEO Style
- Ross Johnson was a casual, charismatic CEO who loved having fun and mingling with celebrities.
- His style was unique and he valued shareholder value like a fast-moving poker player.
Tobacco Discount Impact
- Tobacco companies, including RJR, were discounted by analysts due to litigation fears.
- Combining tobacco's cash flow with Nabisco was seen as a chance to eliminate the tobacco discount.