Corporate-Raiding

Carl Icahn TWA Hostile Takeover - Asset Stripping Blueprint

1985-05-01 00:00:00 +0000 UTC | Importance: 9/10

In May 1985, Carl Icahn orchestrated a hostile takeover of Trans World Airlines (TWA), becoming a quintessential example of 1980s corporate raiding. Icahn acquired 50% of TWA through a leveraged buyout, eventually taking full control by 1988. His strategy involved systematically selling the …

Carl Icahn Trans World Airlines American Airlines corporate-raiding asset-stripping leveraged-buyouts corporate-destruction 1980s-financial-history

Carl Icahn Phillips Petroleum Hostile Takeover Attempt

1985-01-01 00:00:00 +0000 UTC | Importance: 8/10

Carl Icahn launched a multi-billion dollar hostile takeover attempt against Phillips Petroleum, offering $60 per share for half the company’s stock. Coordinating with T. Boone Pickens’ earlier attempt, Icahn used Michael Milken and Drexel Burnham Lambert’s junk bond financing …

Carl Icahn Phillips Petroleum Michael Milken Drexel Burnham Lambert corporate-raiding hostile-takeovers junk-bonds financial-manipulation