Barbarians at the Gate: The Fall of RJR Nabisco by Bryan Burrough, John Helyar

Barbarians at the Gate: The Fall of RJR Nabisco, written by Bryan Burrough, is a captivating account of the 1988 leveraged buyout of RJR Nabisco, one of the largest and most dramatic corporate takeover battles of all time.

The story opens with the corporation’s chief executive, Ross Johnson, offering shareholders a generous buyout package worth an unprecedented twenty-one billion dollars. In the weeks and months that follow, Johnson engages in a competitive bidding war against Henry Kravis, one of Wall Street’s most powerful players. As the battle to control RJR Nabisco intensifies, the company’s board of directors angrily protests Johnson’s hostile takeover attempt while unions and angry shareholders threaten to disrupt the buyout process. Meanwhile, the millions of dollars being thrown around by the bidders provoke mounting media interest that turns Wall Street into a global spectacle.

With a unique insider’s perspective, Burrough carefully details how the once-great tobacco and food conglomerate came to its downfall and how, for better or for worse, the buyout reshaped modern finance. He not only unravels the complex web of factors and personalities involved in the RJR Nabisco saga, but also investigates the ethical implications of the corporate raiders’ actions. Where did all the money go? Who were the winners, who were the losers, and should it have been handled any differently?

The epic battle for RJR Nabisco has since received immortalization in both print and on screen. From the bestselling book to the critically acclaimed television movie, Barbarians at the Gate continues to entertain while delivering an important lesson in corporate finance and the consequences of greed.

As one of the most significant corporate takeover dramas to ever unfold, the RJR Nabisco buyout exemplifies a cautionary tale of the intricate power struggle between Wall Street’s elite. Barbarians at the Gate offers an entertaining, informative account of the deal that left corporate American divided and forever changed the business landscape.