Joel Greenberg Quoted in Reuters on End of Leveraged Buyout Boom
Joel Greenberg, Co-Chair of the Corporate & Finance Department, was quoted in the November 26, 2008 Reuters article titled "Dealtalk - LBOs Read Last Rites as BCE Near Collapse." The article discusses that the likely collapse of the leveraged buyout of BCE Inc., after accountants ruled that the company would fail a solvency test, would mark an end to the biggest leveraged buyout boom in history. The collapse would be a benefit to banks, which have realized billions of dollars in losses on the financing of leveraged buyouts made during the boom. "It's the last of the big buyouts on which the banks are going to realize significant losses if they fund," said Mr. Greenberg.