A leveraged buyout refers to
a. a firm restructuring itself by selling off unrelated units of the company's portfolio.
b. a firm pursuing its core competencies by seeking to build a top management team that comes from a similar background.
c. a restructuring action whereby a party buys all of the assets of a business, financed largely with debt, and takes the firm private.
d. an action where the management of the firm and/or an external party buy all of the assets of a business financed largely with equity.
Answer: a restructuring action whereby a party buys all of the assets of a business, financed largely with debt, and takes the firm private.