$1$ pts

Hidden Valley Communications, Inc., located in a remote area of Utah, made a special device that was used in LTE phones. After three years of local operations, the company that employed $4,000$ people was planning to close its Utah operation and move the assembly offshore. Under the direction of a financial services company that financed the deal, the employees agreed to become owners of the company and continue to operate the business.

The business concept that describes this arrangement is:

HM $($horizontal merger$)$

IPO $($initial public offering$)$

EPO $($equity public offering$)$

LBO $($leveraged buyout$)$