This chapter deals with several merger-related topics like leveraged buyouts (LBOs), leveraged restructurings, spin-offs, carve-outs, privatization, and conglomerates—domestic and international. These are additional mechanisms, apart from mergers and acquisitions, in which company structure can be altered. Some companies choose to restructure but others have it thrust upon them. Financially distressed firms either workout a solution with their debtors or go through a court ordered bankruptcy process. Overall this chapter augments the previous chapter on mergers.
