BPCOs chairman accused the Russian partners of reverting to the harsh methods used by RussiaCOs corporate raiders
to consolidate assets in the late 1990s, a charge some of the Russian shareholders called offensive.
Private equity companies, which last year were responsible for one fifth of last year's pounds l,900bn-worth of mergers and acquisition, have come under the spotlight recently with unions condemning them as corporate raiders
or asset-strippers, only interested in quick profits.
And to give the German public a taste of how Anglo-Saxon corporate raiders
operate in today's world of globalization, a group of foreign investors, led by Christopher Hohn, managing partner of The Children's Investment Fund (TCI), a British-based hedge fund owning 8 percent of Deutsche Borse, succeeded in ousting Werner Seifert as chief executive of Deutsche Borse and forcing its supervisory board chairman, Rolf Breuer, to resign at the end of this year.
The pro-management camp, led by the Business Roundtable, says the proposal could prevent management from appointing board candidates with needed expertise and might throw corporations onto the mercies of corporate raiders
and special interest groups.
As the corporate raiders
left their stockholders high and dry, so the nation raiders will leave American citizens fending for themselves in desolate, dysfunctional cities.
The aim of the corporate raiders
was to find a company with a stock that they felt was undervalued and attempt to acquire it.
But in the meantime, veteran corporate raiders
like Guy Wyser-Pratte are back in the news.
A good deal of merger and acquisition activity has received a bad press, with most of the "financial engineers" involved lumped together as insensitive corporate raiders
Savill also voiced his concern that "racecourses will become prey to corporate raiders
anxious to keep down costs in pursuit of greater profits.
Unlike the controversial "transaction oriented" deals masterminded by investment bankers and corporate raiders
gunning for quick profits, these deals were normally made by managers taking the long view.
Forbes called it "socialism Pennsylvania style," Business week labeled it "a dangerous game," and the New York Times opined that the anti takeover statute was the "sorriest example of state intervention" The mighty wallets of the financial world--including the United Shareholders of America, corporate raiders
Those were tumultuous times for the SEC, for they gave rise to among other things) corporate raiders
, junk bonds, insider trading scandals, leveraged buyouts, the wild bull market and subsequent crash of 1987, hostile takeovers, and so on.