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The 1980s—Did We Save the Stockholders While the Corporation Burned?

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Washington University Law Quarterly


Although the long-range ramifications of the takeover craze are not yet known, one thing is clear: the 1980s changed the way American corporations do business. I suspect that the effects of the era have changed or will change the way in which America looks at corporations. In retrospect, many ask why this era of mega-mergers happened and why nothing was done to control events that seemed to be endangering the entire economy and the livelihood of millions. In order to appreciate these events, however, it is necessary to understand the environment in which they occurred.