India Inc may have to wait a while before concluding a cross-border acquisition as big as the Tata-Corus deal. Leveraged buyouts, which helped Indian companies to raise finances for global takeovers, are heading for a slowdown, triggering sale of equities in global markets. In a leveraged buyout the acquisition of a company is financed significantly by money borrowed against its assets. Leveraged buyouts thus allow companies to make large acquisitions without having to commit a lot of capital. The Tatas managed to raise debt worth $6 billion–six times the earnings before tax, interest and depreciation (EBIDTA) of Corus–to finance the acquisition. But they may have to take another fund-raising route if they chose to acquire Land Rover and Jaguar from Ford. A liquidity crunch has forced global lenders to significantly scale down loans to 3-4 times the EBIDTA of the acquired company. […]