Breakingviews | Buyout exits

Considered view

02 Jan 2008 20:08

A will, but no way

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Blackstone won't complete its buyout of PHH. That’s bad enough. But its exit from Freedom is also now on ice. These troubles show that it's not only going to be harder to borrow for buyouts, it's going to be harder to exit existing deals – and to make a killing when doing so.

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