Big Sky Communications, Inc., located in a remote area of Montana, made a special device that was used in LTE phones. After three years of

local operations, the company that employed $2,000$ people was planning to close its Montana 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

Multiple Choice

IPO $($initial public offering$).$

LBO $($leveraged buyout$).$

EPO $($equity public offering$).$