Lb Os Didn't Make Formica Lose Its Gloss

"How Formica got burned out by buyouts" (Finance, Mar. 22) incorrectly characterizes sequential leveraged buyouts as damaging to Formica Corp. and, by implication, any other company subjected to the same process. The damage done to the Formica business was done during the two periods when the business was owned by conglomerates. The business improved during its two periods of LBO ownership.

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