Barbarians at the Gate recounts the thrilling true story of the fierce battle for control of RJR Nabisco, one of America's largest food companies, as the age of leveraged buyouts reaches a fever pitch. At the heart of the drama are ruthless financiers, corporate raiders, and the golden age of Wall Street, all vying for power and wealth amidst the excesses of the 1980s. As the stakes escalate, alliances shift and moral dilemmas arise, revealing the darker side of corporate ambition. This gripping tale not only exposes the lengths to which individuals will go for success but also critiques the very foundations of capitalism. Prepare to be captivated by the intrigue, betrayal, and sheer audacity of one of the biggest takeovers in history!
By Bryan Burrough, John Helyar
Published: 2009
"Admit it: you’re curious. You want to know what were they thinking?"
#1 New York Times bestseller and arguably the best business narrative ever written, Barbarians at the Gate is the classic account of the fall of RJR Nabisco at the hands of a buyout from investment firm KKR. A book that stormed both the bestseller list and the public imagination, a book that created a genre of its own, and a book that gets at the heart of Wall Street and the '80s culture it helped define, Barbarians at the Gate is a modern classic—a masterpiece of investigatory journalism and a rollicking book of corporate derring-do and financial swordsmanship. The fight to control RJR Nabisco during October and November of 1988 was more than just the largest takeover in Wall Street history. Marked by brazen displays of ego not seen in American business for decades, it became the high point of a new gilded age and its repercussions are still being felt. The tale remains the ultimate story of greed and glory—a story and a cast of characters that determined the course of global business and redefined how deals would be done and fortunes made in the decades to come. Barbarians at the Gate is the gripping account of these two frenzied months, of deal makers and publicity flaks, of an old-line industrial powerhouse (home of such familiar products a Oreos and Camels) that became the victim of the ruthless and rapacious style of finance in the 1980s. As reporters for The Wall Street Journal, Burrough and Helyar had extensive access to all the characters in this drama. They take the reader behind the scenes at strategy meetings and society dinners, into boardrooms and bedrooms, providing an unprecedentedly detailed look at how financial operations at the highest levels are conducted but also a richly textured social history of wealth at the twilight of the Reagan era. At the center of the huge power struggle is RJR Nabisco's president, the high-living Ross Johnson. It's his secret plan to buy out the company that sets the frenzy in motion, attracting the country's leading takeover players: Henry Kravis, the legendary leveraged-buyout king of investment firm KKR, whose entry into the fray sets off an acquisitive commotion; Peter Cohen, CEO of Shearson Lehman Hutton and Johnson's partner, who needs a victory to propel his company to an unchallenged leadership in the lucrative mergers and acquisitions field; the fiercely independent Ted Forstmann, motivated as much by honor as by his rage at the corruption he sees taking over the business he cherishes; Jim Maher and his ragtag team, struggling to regain credibility for the decimated ranks at First Boston; and an army of desperate bankers, lawyers, and accountants, all drawn inexorably to the greatest prize of their careers—and one of the greatest prizes in the history of American business. Written with the bravado of a novel and researched with the diligence of a sweeping cultural history, Barbarians at the Gate is present at the front line of every battle of the campaign. Here is the unforgettable story of that takeover in all its brutality. In a new afterword specially commissioned for the story's 20th anniversary, Burrough and Helyar return to visit the heroes and villains of this epic story, tracing the fallout of the deal, charting the subsequent success and failure of those involved, and addressing the incredible impact this story—and the book itself—made on the world.
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“Admit it: you’re curious. You want to know what were they thinking?”
Barbarians at the Gate
By Bryan Burrough, John Helyar
Discover a world of knowledge through our extensive collection of book summaries.
Bryan Burrough is an acclaimed American author and journalist known for his engaging narrative nonfiction and deep dives into American history and culture. He is best known for his books "Public Enemies: America's Greatest Crime Wave and the Birth of the FBI, 1933-34," which explores the violent era of the Great Depression and the rise of notorious criminals, and "Days of Rage: America's Radical Underground, the FBI, and the Forgotten Age of Revolutionary Violence," delving into the turbulent 1970s and the radical groups of that time. His writing style is characterized by meticulous research, vivid storytelling, and a compelling narrative voice that brings historical figures and events to life. Burrough has contributed to various prestigious publications, including Vanity Fair and The New York Times, solidifying his reputation as a prominent chronicler of America's most gripping stories.
John Helyar is a renowned American journalist and author, best known for his incisive reporting on the intersection of business, sports, and finance. His notable works include "Lords of the Realm: The Real History of Baseball," which provides a detailed exploration of the game's financial and cultural landscape, and "The Fastest Game on Earth: Hockey's Most Dangerous Players," which examines the intense rivalries and personalities in professional hockey.
Helyar's writing style is characterized by meticulous research and a narrative approach that weaves together insightful analysis with engaging storytelling. His ability to illuminate complex subjects through accessible prose has earned him recognition in both journalistic and literary circles. With a career spanning several decades, Helyar continues to contribute to discussions around sports and economics, cementing his status as a significant voice in contemporary journalism.
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