Mr. Creedon and other bondholders claim that they have been abused by corporate executives and Wall Street bankers swept up in the debt-crazed takeover binge.

The Senate has been deeply divided over whether Congress should curb the takeover binge.

Most arbitragers expect the takeover binge to continue this year, although they say the pace may slow.

The takeover binge of the late 1980's has gotten much of the blame.

This kind of legal legerdemain is one of the most damaging legacies of the takeover binge of the 1980s.

But Bernard Ebbers, its president, took it on a takeover binge, buying up companies that provide local phone and Internet services.

The takeover binge saddled businesses with debt that creates a cloud of potential bankruptcies.

There is a possibility that the takeover binge may be near its end and companies like these may never be acquired.

Although uncomfortable defending management, they deride the current shareholder campaigns as little better than the takeover binges of the 1980's.

Money Managers Pleased Over the short run, the takeover binge is pleasing many professional money managers.