Timeline Thursday 1 December 1988

Events on Thursday 1 December 1988 1

• 1988 KKR wins leveraged buyout of RJR Nabisco $25 billion deal becomes largest LBO in history Kohlberg Kravis Roberts won a bidding war to acquire RJR Nabisco for roughly $25 billion, the largest leveraged buyout to that date. The deal became emblematic of 1980s Wall Street excess and was chronicled in the book Barbarians at the Gate. It stood as the largest LBO in history for nearly two decades.