We analyze the pricing and characteristics of club deal leveraged buyouts (LBOs)--those in which two or more private equity partnerships jointly conduct an LBO. Using a comprehensive sample of completed LBOs of U.S. publicly traded targets conducted by prominent private equity firms, we find...

We analyze the pricing and characteristics of club deal leveraged buyouts (LBOs) ndash; those in which two or more private equity partnerships jointly conduct an LBO. Using a comprehensive sample of completed LBOs of U.S. publicly traded targets conducted by prominent private equity firms, we...