杠杆收购

各位可以在《苹果公司管理层杠杆收购的潜在可能》（Apple’sLeveragedManagementBuyoutPotential）一文中看到喀拉密的分析。

You can read his analysis at Apple 's Leveraged Management Buyout Potential .

管理层收购（Managementbuy&outs，简称MBO），是杠杆收购的一种。

Management Buy & out ( MBO ) is a kind of Leveraged Buy - out s ( LBO ) .

由伦敦智库金融创新研究中心（centreforthestudyoffinancialinnovation）发表的这份报告，可能会重新点燃有关杠杆收购的社会价值的辩论。

The report from the centre for the study of financial innovation , a London-based think-tank , is likely to reignite the debate about the social value of leveraged buy-outs .

私人股本（PE）一般通过债权和股权为已经比较成熟的企业提供支持，通常会对整个公司进行杠杆收购。

Private equity ( PE ) generally backs established businesses using debt and equity , normally carrying out leveraged buy-outs of entire companies .

MBO作为企业杠杆收购方式的一种，曾在欧美国家取得了成功。

MBO , as one pattern of LBO ( Leveraged buy-out ), has achieved success in the western countries .

尽管流动性危机使杠杆收购活动陷于停滞，但合并套利型基金（mergerarbitragefunds）获得了正收益：上涨0.6%。

Despite the liquidity crisis bringing leveraged buyout activity to a halt , merger arbitrage funds recorded a positive number : up 0.6 per cent .

DIC成立于2004年，初期主要面向北美和欧洲的企业进行杠杆收购。

Formed in2004 , DIC focused early on leveraged buyouts , targeting North American and European firms .

去年，市场信息服务S&PLCD公司称，价值超过10亿美元的杠杆收购交易的平均股权比例为39.28%。

Last year , S & P LCD reported that the average equity portion of a $ 1 billion + leveraged buyout was 39.28 % .

房地产企业成都LW公司杠杆收购方案设计

The Design on Leverage Buy - Out for a Realestate Enterprise

MBO作为杠杆收购的一种形式，融资体制建设是其健康发展的重要环节。

The healthy development of MBO , a special form of Leveraged Buy-Outs , depends a lot on the development of financing systems .

ClearChannel退市交易的价值将超过175亿美元。这将是传媒业迄今规模最大的杠杆收购交易，也是大型家族企业放弃上市公司身份的最新实例。

A deal to take Clear Channel private would be worth more than $ 17.5bn , making it the biggest leveraged buy-out in the media industry and the latest example of large family-run businesses abandoning the public markets .

福斯特曼是杠杆收购业务的先驱，也是投资公司ForstmannLittle&Co.的高级创始合伙人，还是IMGWorldwideHoldingsInc.的董事长兼首席执行长（CEO）。

Forstmann was the senior founding partner of the investment firm Forstmann Little & Co. , and chairman and CEO of IMG Worldwide Holdings Inc.

管理层收购（MBO）作为杠杆收购的一种，在实施的过程中需要大量的外部资金。

To be one kind of leveraged buy-outs ( LMO ), there need a greet deal of external funds during the course of implement .

CLO把主要用于为杠杆收购融资的企业贷款打包成单一可投资工具。

CLOs bundle corporate loans taken out primarily to fund leveraged buyouts into a single investable package .

troweprice并不是有名的维权投资者，但有一种事情会让它愤怒，那就是私人股本公司杠杆收购的趋势。

T Rowe price is not known as an activist investor , but one area where its hackles have beenraised is the trend to leveraged buy-outs by private equity firms .

该交易可能会被构造为一项杠杆收购（LBO），德国政府将向收购者的债务融资提供担保支持。

It could be structured as a leveraged buy-out , with an investor raising debt backed by German guarantees .

在贝尔斯登的时候，三人开创了一种杠杆收购，后来在KKR，他们正式确立了这种模式。

At KKR , the three men set up leveraged buy-outs of the kind they had pioneered at Bear Stearns .

KKR一直是私人股本行业知名的参与者，投资于一些有史以来规模最大的杠杆收购。

KKR has remained a prominent player in the industry , investing in some of the biggest leveraged buy-outs on record .

历史上最大的杠杆收购案例是美国雷诺兹-纳贝斯克公司（RJRNabisco），收购价为310亿美元。

The largest LBO in history was RJR Nabisco , at $ 31 billion .

管理层收购MBO（Managementbuy-Out）起源于英国，是杠杆收购LBO（LeverageBuy-Out）的重要形式之一。

MBO ( Management Buy-Outs ) is a important style of LBO ( Leverage Buy-Outs ) which was first happened in England during the great economic depress in European countries 60 's of 20 century .

另外，杠杆收购（LBO）基金的平均收益率（除去管理费）低于标准普尔500指数。

In addition , on average LBO ( leveraged buy-out ) funds returns net of fees are lower than those of the S & P 500 .

高盛（GoldmanSachs）表示：数年来，企业热衷于从市场收回股票，不是通过回购，就是通过杠杆收购。而在2009和2010年，可能出现相反的情况。

After several years when corporates have been happily withdrawing equity from the markets through share buybacks and leveraged buyouts , the opposite is likely to be true in 2009 and 2010 , Goldman Sachs said .

杠杆收购（LeveragedBuyout，简称LBO），最早出现在20世纪60年代的美国，盛行于80年代的一种重要的企业并购方式。

Leveraged Buyout ( called LBO ), appeared in early 20th century 60 's US , LBO is popular with an important kind of M & A in the 80 's.

知情人士称，被杠杆收购集团贝恩资本（BainCapital）和百仕通（Blackstone）买下的艺术品及工艺品零售商Michael'sStores，其债券一度沦为不良债务，但现在交易价格已高于面值。

Once-distressed bonds in Michael 's Stores , an arts and crafts retailer bought by leveraged buy-out groups Bain Capital and Blackstone , are now selling at a price above par , according to people familiar with the matter .

结果，到了12月3日，高盛集团（GoldmanSachs）的一位分析师暗示，戴尔公司可能适合做杠杆收购——这一下子就让戴尔的股票涨了4.4%，到了每股10.06美元。

Then , on Dec. 3 , a Goldman Sachs ( GS ) analyst suggested that the company might be ripe for a leveraged buyout -- sending Dell stock up 4.4 % to $ 10.06 per share .

结果，到了12月3日，高盛集团（GoldmanSachs）的一位分析师暗示，戴尔公司可能适合做杠杆收购&这一下子就让戴尔的股票涨了4.4%，到了每股10.06美元。

Then , on Dec. 3 , a Goldman Sachs ( GS ) analyst suggested that the company might be ripe for a leveraged buyout & sending Dell stock up 4.4 % to $ 10.06 per share .

其结果是，CDO市场被关闭，公司获得信贷特别是杠杆收购债务的渠道大幅减少。

As a result , the CDO market is closed , and companies ' access to credit - especially for leveraged buyout debt - has been severely curtailed .

2002年10月，新颁布的《上市公司收购管理办法》首次认可了MBO这一新生的杠杆收购形式，MBO从此在我国迅速盛行起来。

The newly issued Managing Method of Listed Company Acquisition in Oct. 2002 legalized MBO as a kind of leverage acquisition for the first time , and MBO becomes more and more popular from then on .

管理层收购（MBO）是杠杆收购（LBO）的一种方式，曾一度流行于欧美国家，正在引起我国学术界和企业界的广泛关注。

Being a kind of Leveraged Buyout ( LBO ), Management Buyout ( MBO ) had prevailed in Europe and America , and now in China is arousing extensive attention in academy and entrepreneur group .

KKR是杠杆收购行业的先驱，该公司最为知名的案例是20年前以300亿美元收购了RJRNabisco。

KKR , a pioneer in the leverage buy-out business , is best known for its $ 30bn takeover of RJR Nabisco two decades ago .