Or more likely, a PE firm would saddle the company with debt to pay off the new owners' debts, lay off everybody with any know-how, make an inept attempt at reinventing the now low-morale company, then give up after a few years and go into bankruptcy selling it off for parts leaving a pile of bondholder and pension lawsuits behind while management moves on to their next glorious MBA adventure.
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Or more likely, a PE firm would saddle the company with debt to pay off the new owners' debts, lay off everybody with any know-how, make an inept attempt at reinventing the now low-morale company, then give up after a few years and go into bankruptcy selling it off for parts leaving a pile of bondholder and pension lawsuits behind while management moves on to their next glorious MBA adventure.