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http://www.sciencedirect.com/science/article/pii/0304405X91900044 The Staying Power of Leveraged Buyouts
===Kaplan 1991===
@article{kaplan1991staying,
title={The staying power of leveraged buyouts},
author={Kaplan, Steven N},
journal={Journal of Financial Economics},
volume={29},
number={2},
pages={287--313},
year={1991},
publisher={Elsevier}
abstract={This paper documents the organizational status over time of 183 large leveraged buyouts completed between 1979 and 1986. By August 1990, 62% of the LBOs are privately owned, 14% are independent public companies, and 24% are owned by other public companies. The percentage of LBOs returning to public ownership increases over time, with LBOs remaining private for a median time of 6.82 years. The majority of LBOs, therefore, are neither short-lived nor permanent. The moderate fraction of LBO assets owned by other companies implies that asset sales play a role, but are not the primary motivating force in LBO transactions.}
filename={Kaplan (1991) - The staying power of leveraged buyouts}
}
Implications for the reasons LBOs occur and sources of value in LBO transactions. Describes characteristics, timelines, and stats of LBOs that return to public ownership.
http://www.jstor.org/stable/3665536?seq=1#page_scan_tab_contents Corporate Capital Structure Decisions: Evidence from Leveraged Buyouts
