If a company wants access to another firm's knowledge in a particular area, argues Marcus Alexander, a director of Britain's Ashridge Strategic Management Centre, an acquisition can be a disaster.

ECONOMIST: Mergers and alliances

But perhaps that was Petrocelli's point: He hammered home the defense idea that Fastow was intoxicated with avarice, looting the doomed energy trader for his own gain--and without the knowledge of Skilling or Lay, the firm's founder.

FORBES: Enron's Fastow Slammed As Slave Of 'Insatiable Greed'

People with knowledge of CVC's plans said in January that the firm was seeking cornerstone investors for the Matahari deal and that bankers had approached U.S. insurer American International Group Inc.

WSJ: CVC to Start Pitching Matahari Share Sale Next Week