Highly confident letter
id:
highly-confident-letter-299-13056211
title:
Highly confident letter
text:
The "highly confident letter" was a financing tool created by investment bankers at Drexel Burnham Lambert, dominated by Michael Milken, in the 1980s. Its objective was to enable corporate raiders to launch leveraged buyout (LBO) offers without the debt component of their financing package fully in place. The letter was first crafted in 1983 for use in Carl Icahn's attempt to take ownership of Phillips 66. The conventional wisdom was that due to Icahn's reputation as a takeover artist combined w
brand slug:
wiki
category slug:
encyclopedia
description:
original url:
https://en.wikipedia.org/wiki/Highly_confident_letter
date created:
date modified:
2024-03-19T03:37:16Z
main entity:
{"identifier":"Q5759551","url":"https://www.wikidata.org/entity/Q5759551"}
image:
fields total:
13
integrity:
13