What are the major stages of leveraged buyouts as illustrated in chapter 16?

Please pick one and provide an illustration!

THE MAJOR STAGES OF LEVERAGED BUYOUTS As ILLUSTRATED IN CHAPTER 16.

Leveraged buyout activity can be placed into three distinct time periods: the 1980s, the early 1990s, and post-1992. Leveraged buyouts did not begin with the 1980s; they actually have a long history. Before 1980, they often were referred to as bootstrap transactions characterized by highly leveraged deals. During the 1980s, the economic and financial environments that stimulated M&A activity were also fertile environments for LBOs.

Economic and legislative changes, as well as some unsound patterns in LBO transactions of the late 1980s, resulted in a correction period. From a peak of a total of $65.7 billion in LBO transactions in 1989, the volume declined to $7 billion in 1991. New developments in the nature of LBO transactions and market participants led to a revival in LBO transactions to a level of $62 billion in 1999.

The percentage relationships underscore the changing relative importance of LBOs, as shown in Table 16.1. For the years 1986 to 1989, LBOs accounted for more than one fifth of the total dollar value of completed mergers. From 1990 to 1992, LBOs dropped to 11.3% of the total dollar value of merger activity. For the years 1996 to 2000, LBOs represented only 4.4% of total M&A activity.