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Barbarians at the Gate: The Fall of RJR Nabisco
RJR Nabisco
is a book about the leveraged buyout (LBO) of RJR Nabisco, written by investigative journalists Bryan Burrough and John Helyar. The book is based upon a series of articles written by the authors for The Wall Street Journal[citation needed]. The book was later made into a made-for-TV movie by HBO, also called Barbarians at the Gate. The book centers on F. Ross Johnson, the CEO of RJR Nabisco, who planned to buy out the rest of the Nabisco shareholders.

Contents

1 Summary 2 Important personalities 3 Film adaptation 4 Publishing information and reception 5 References

Summary[edit] Those opposed to Johnson's bid for the company, Henry Kravis
Henry Kravis
and his cousin George R. Roberts, were among the pioneers of the leveraged buyout (LBO). Kravis was the first person Johnson talked to about doing the LBO and feels betrayed after learning that Johnson wants to do the deal with another firm, American Express's former Shearson Lehman Hutton division. Ted Forstmann and his Forstmann Little buyout firm also played a prominent role. After Kravis and Johnson are unable to reconcile their differences, a bidding war takes place which Johnson will eventually lose. The unfortunate side effect of the augmented buyout price to the shareholders is the creation of a worrying level of debt for the company. The title of the book comes from a statement by Forstmann, in which he calls Kravis' money "phoney junk bond crap" and declares him and his cousin as "real people with real money," also stating that to stop raiders like Kravis: "We need to push the barbarians back from the city gates." Important personalities[edit]

F. Ross Johnson, President and CEO, RJR Nabisco Ed Horrigan, President and Chief Executive Officer of R.J. Reynolds Tobacco division of RJR Nabisco Edward J. Robinson, Chief Financial Officer of RJR Nabisco Peter Cohen, Chairman and Chief Executive, Shearson Lehman Hutton Andrew G. C. Sage II, consultant and board member of RJR Nabisco. Partner, Lehman Brothers Nick Forstmann, Senior Partner, Forstmann Little & Company John Greeniaus, President and Chief Executive Officer of Nabisco division of RJR Nabisco Charlie Hugel, Chairman of the Board, RJR Nabisco Henry Kravis, Senior Partner, Kohlberg Kravis Roberts & Co. George R. Roberts, Senior Partner, Kohlberg Kravis Roberts & Co. Jim Robinson, Chairman and Chief Executive, American Express

Film adaptation[edit] The book was adapted by Larry Gelbart
Larry Gelbart
for a 1993 television movie of the same name directed by Glenn Jordan. Publishing information and reception[edit] In 2008, Harper Collins
Harper Collins
re-released Barbarians to mark the two-decade anniversary of the RJR deal. Media columnist Jon Friedman at MarketWatch
MarketWatch
opined on the occasion that it was "the best business book ever." Friedman spoke with the authors about the two-decade history of the book and of their ensuing careers (the two undertook no further joint projects).[1] Business reporter Andrew Ross Sorkin
Andrew Ross Sorkin
of The New York Times wrote in his book Too Big to Fail that this is his favourite business book of all time. References[edit]

^ "'Barbarians at the Gate' authors reflect" by Jon Friedman, MarketWatch, 11-21-08. Retrieved 2-7-09.

Hamilton, David P., Book Review, Washington Mon

.