Barbarians At The Gate by Bryan Burrough

Description

“Barbarians at the Gate: The Fall of RJR Nabisco” is a book written by Bryan Burrough and John Helyar. It was first published in 1990 and is a detailed account of the leveraged buyout (LBO) of RJR Nabisco, one of the largest and most dramatic corporate takeovers in American history.

The book chronicles the events leading up to the acquisition of RJR Nabisco in the late 1980s. The company, known for its tobacco and food products, became the target of a fierce and competitive takeover battle among various bidders, including management insiders, private equity firms, and rival corporations. The bidding war ultimately resulted in the largest leveraged buyout of that time.

“Barbarians at the Gate” provides a behind-the-scenes look at the personalities, strategies, and financial maneuvers involved in the takeover. The title reflects the authors’ portrayal of the corporate raiders and dealmakers involved in the acquisition as modern-day “barbarians,” highlighting the aggressive and often ruthless nature of the business world during that era.

The book not only explores the financial and legal aspects of the deal but also delves into the personal relationships, egos, and power struggles among the key players. The narrative provides insights into the world of high finance, investment banking, and corporate maneuvering, making it both an informative and entertaining read.

“Barbarians at the Gate” was well-received for its engaging storytelling and comprehensive analysis of the RJR Nabisco takeover. The book was later adapted into a television movie of the same name in 1993. The story remains relevant as a historical account of a pivotal moment in the world of corporate finance and serves as a cautionary tale about the excesses and risks associated with leveraged buyouts.