Industry WIKI

Asset stripping is the selling off of a company's assets to improve returns for equity investors, often a financial investor, a "corporate raider", who takes over another company and then auctions off the acquired company's assets. The term is generally used in a pejorative sense as such activity is not considered helpful to the company.

Harold Clark Simmons (May 13, 1931 – December 29, 2013) was an American businessman, investor, and philanthropist whose banking expertise helped him develop the acquisition concept known as the leveraged buyout (LBO) to acquire various corporations. He was the owner of Contran Corporation and of Valhi, Inc., (a NYSE traded company about 90% controlled by Contran). As of 2006, he controll

Thomas Boone Pickens Jr. (May 22, 1928 – September 11, 2019) was an American business magnate and financier. Pickens chaired the hedge fund BP Capital Management. He was a well-known takeover operator and corporate raider during the 1980s. Later in life, he was a prominent conservative activist and philanthropist. At the time of Pickens' death in 2019, his net worth stood at $500 million