杠杆收购（LeveragedBuyout），简而言之，就是通过增加公司的财务杠杆去完成兼并交易。从实质上来看，杠杆收购就是一个公司主要通过借债来获得另外一个公司的产权，又从后者的现金流量中偿还负债的兼并方式。杠杆兼并兴起于上世纪７０年代末８０年代初的美国，其兴起的背景概 Leveraged buyout, in short, completes the merger by increasing the company's financial leverage. In essence, a leveraged buyout is a merger whereby a company repays its debt primarily to acquire the ownership of another company and repay the liability from the latter's cash flow. Leveraged mergers rose in the late 1970s and early 1980s in the United States, its rise in the background