Bidding on Freescale Sets Off Alarms

Two groups of private-equity firms have placed huge bids on the chip maker. To some, the likely debt load is just too risky

The bidding war for computer chip maker Freescale Semiconductor (FSL) is just the latest in a series of huge leveraged buyouts. Big private-equity firms loaded with cash are setting records, as they tackle larger and larger deals in sectors such as technology, a field on which they were unlikely to tread until just a few years ago.

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