Title

Restructuring Corporate America

Document Type

Book

Publication Date

1996

Abstract

Mergers and acquisitions aren't the only path to restructuring. A broad array of restructuring options are available to management, on a national and international basis. Restructuring Corporate America is appropriate for such courses as mergers and acquisitions, financial management, restructuring, financial strategy, and long-term financing, as well as professsional seminars. The text takes a broader view of restructuring, acknowledging that in advanced industrial states, voluntary restructuring takes such diverse forms as refinancing, management realignment, LBOs, ESOPs, and involuntary reorganization (bankruptcy). Reorganization may also blend types of restructuring, this requiring a close examination of goals, strategy, and tactics. The book focuses on the prerequisites of a well-conceived restructuring strategy. Over the course of its life, a firm will either periodically restructure or fail to survive. Each chapter ends with questions and a case study based on real companies and events, designed to stimulate thinking on the pros and cons of different restructuring strategies and tactics.