Thanks for the thorough but concise summary.<p>&gt; If the buyer wants to do an LBO, they can use the cash to finance it. (Strange how that works!)<p>Agreed. If you can&#x27;t figure out what to do with your cash, someone else with less insider knowledge and experience will. AKA they&#x27;ll rebalance your books, make the tough cuts that you can&#x27;t, point you in a new direction, and exit at 5-10x their initial investment in a couple of years.