The TXU LBO involved: a. A bet on future oil prices. b. The PE sponsors lost about half their equity investment C. The bondholders eventually took control of TXU. d. The equity sponsors used all the money saved by not paying cash dividends to reduce electricity prices . The HCA LBO involved: a. A huge control premium for HCA's former shareholders. b. The LBO sponsors tripled their money when HCA went public in 2011. C. The LBO sponsors substantially reduced the LBO debt by the time HCA went public. d. None of the above