hard · Private Equity & LBOs

A private equity firm is evaluating a potential 'Management Buyout' (MBO).

What is the primary risk associated with an MBO compared to a standard secondary buyout?

  1. Conflict of interest where management may favor the buyer over current shareholders
  2. The inability to use leverage due to management's limited personal capital
  3. Higher integration risk following the close of the transaction
  4. Information asymmetry between management and the sponsor

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