ABSTRACT
The managerial changes that may arise following the buy-out involve firstly the shape of the management structure and secondly the individuals contained within it. Changes in the management structure may be necessary for a number of reasons and can take various forms. Managerial or leadership style may be generally considered to run along a continuum from no participation in management by subordinates at one end to complete participation at the other. The influences on the appropriate leadership style in a company and the implied organisational structure have been discussed extensively in the management and related literature for many years. The implications of the theoretical discussion for management styles in buy-outs are as follows. It is useful at the outset to distinguish between the stages of the negotiation of the buy-out and those afterwards when the company is trading in its new ownership form.
