Debt-Financed Mergers and Acquisitions Alchemy (McKinsey, Issue 02, 2002)

Author: Fang Xiangming
Publisher:
Publish Date: 2002-06-01
Features: The cover story of this issue, "Leveraged Buyout Alchemy," will introduce readers to various acquisition strategies—leveraged buyouts (LBO)—that can revitalize traditional chemical enterprises. It is the perfect combination of financial capital and traditional industries. Proven results show that chemical companies achieve better performance in the hands of investment bankers than engineers and professionals. Another important article in this issue of the McKinsey Higher Management Theory Anthology is "Building a New China Steel Industry" by Hu Qiangjun, a senior director at McKinsey Shanghai. China's steel industry and domestic market size are the world's largest, but due to overly fragmented distribution and low production efficiency, Chinese steel companies lack international competitiveness. The article "China Chips" provides an in-depth analysis of the future development strategies of China's semiconductor industry. The continuous growth in consumer demand has provided broad development space for China's logistics industry. How to seize this profitable business opportunity, "Shipping China's Goods" will offer readers some valuable insights. This issue of the Anthology includes 5 articles on the Chinese market, nearly half of the entire book. In the future, we will publish more articles on the Chinese market in the McKinsey Higher Management Theory Anthology.