The Crash: Raiders Retreat - for Now

If stocks surged so high this year that they were bound to crash, part of the blame belongs to America's relentless band of corporate raiders. As takeover titans battled to outbid one another, the share prices of many target companies -- or companies merely rumored to be targets -- reached unrealistic levels. Now, in the aftermath of Black Monday, the big deals are crumbling, and the raiders are retreating. But for how long? Is this the nadir of the raider, or will sagging stock prices make the targets more irresistible than ever?

For the moment, takeovers have become a perilous pursuit....

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