Leveraged buyout

    杠杆收购

    证监会主席刘士余周六在公开讲话中痛批“野蛮收购”，引发业界高度关注。请看本报昨日的报道：

    The chairman of China's securities regulator condemned "barbaric" leveraged company buyouts by some asset managers using illegal funds, according to a statement posted on the China Securities Regulatory Commission (CSRC) website Saturday.

    "You've ultimately become a robber in the industry, and that is unacceptable," CSRC Chairman Liu Shiyu said during his strong-worded speech at a meeting held by the Asset Management Association of China, a self-regulatory body that oversees private funds in the country.

    Liu said China's capital markets had seen a series of "abnormal phenomena" lately, challenging the bottom line of China's financial law and regulations.

    报道中的leveraged buyout (LBO)就是“杠杆收购”，指一些投资者通过投入少量的自有资金，大量举债来收购目标企业的一种金融工具。