Self-made multimillionaire F. Ross Johnson, CEO ofRJR Nabisco, decides to take the tobacco and food conglomerate company private in 1988 after receiving advanced news of the likely commercial failure of the company's smokelesscigarette calledPremier, the development of which had been intended to finally boost the company's stock price.[1]
The free-spending Johnson's bid for the company is opposed by two of the pioneers of theleveraged buyout, Henry Kravis and his cousin. Kravis feels betrayed when, after Johnson initially discusses doing the LBO with Kravis, he takes the potentially enormous deal to another firm, theShearson Lehman Hutton division ofAmerican Express.
Other bidders emerge, includingTed Forstmann and his company,Forstmann Little, after Kravis and Johnson are unable to reconcile their differences. The bidding goes to unprecedented heights, and when executive Charles Hugel becomes aware of how much Johnson stands to profit in a transaction that will put thousands of Nabisco employees out of work, he quips, "Now I know what the 'F' in F. Ross Johnson stands for." The greed is so evident, Kravis's final bid is declared the winner, even though Johnson's was higher.
The title of the book and movie comes from a statement by Forstmann in which he calls Kravis' money "phoneyjunk bond crap" and how he and his brother are "real people with real money," and that to stop raiders like Kravis: "We need to push the barbarians back from the city gates."
Review aggregatorRotten Tomatoes gives the film a rating of 71% based on 7 reviews, with an average rating of 3/5.[2] Tony Scott ofVariety stated the film "fascinates; as social commentary, it excels. Making an intricate business exercise both entertaining and engrossing takes lots of doing; it’s handily accomplished here."[3]John J. O'Connor ofThe New York Times stated "Want to compareBarbarians at the Gates toCitizen Kane? No way. Compared with your average television movie? Don't miss it."[1]
.svg)
