Why? It's a model that's worked successfully for decades, though you forgot 1a Have the company take on debt to pay for the takeover.
It's also ridiculously destructive and abusive to all except the asset stripper.
It's also ridiculously destructive and abusive to all except the asset stripper.
Barbarians at the Gate is a classic business book about such a case (the takeover of RJR Nabisco).