In 1985, Michael Milken of Drexel Burnham Lambert raised a $750 million blind pool for Ronald Perelman, providing him with unprecedented acquisition firepower. This innovative financial mechanism allowed Perelman to execute hostile corporate takeovers, most notably the acquisition of Revlon. The …
Ronald PerelmanMichael MilkenDrexel Burnham Lambertcorporate-raidersronald-perelmanmichael-milkendrexel-burnham-lambertjunk-bonds+4 more
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 IcahnPhillips PetroleumMichael MilkenDrexel Burnham Lambertcorporate-raidinghostile-takeoversjunk-bondsfinancial-manipulation
Michael Milken at Drexel Burnham Lambert raised the first major $100 million blind pool for Nelson Peltz and Triangle Industries to finance corporate takeovers. This groundbreaking financial innovation established the template for blind pool financing that would become central to 1980s corporate …
Michael MilkenNelson PeltzDrexel Burnham LambertTriangle Industriescorporate-raidersdrexel-burnham-lambertmichael-milkennelson-peltzjunk-bonds+3 more