LBOs And Taxes: No One To Blame But Ourselves? Leland, Hayne E. California Management Review; Fall 1989; 32, 1; ABI/INFORM Global pg. 19
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LBOs And Taxes: No One To Blame But Ourselves?
the pressure to service large interest payments leads to short-sighted man- agement policies. ... An analysis of the RJR-Nabisco LBO shows that tax advantages from leverage alone ... RJR-Nabisco data indicated a net tax rate in 1988 of 40%.
