The Big Deals Wheel Again

The $30 billion takeover of HCA marks the rise of private-equity firms--and a new buyout wave

Toys "R" Us. Dunkin' Donuts. Univision. Hertz. Those are names of well-known American companies. Bain. Carlyle. Texas Pacific. KKR. Those are names of the lesser-known outfits that bought them in the past year and a half. If you thought the New York Stock Exchange was the place to invest, think again.

Private-equity firms pumped up with vast amounts of money are snatching public companies in an unprecedented buyout wave. In an updated, renamed version of the leveraged buyout, or LBO, private-equity firms acquire undervalued companies, load them with debt, overhaul operations and then return them to the stock exchanges whence they...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!