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(FINANCE) leveraged buy-out; when a takeover artist like Kohlberg Kravis Roberts & Co (KKR) arranges to borrow huge amounts of money at high interest, buy a controlling interest in a corporation, and then replace the management so its more profitable. The new profits then pay off the cost of buying the company.
Usually a takeover artist requires a vehicle corporation to carry out an LBO. For example, T. Boone Pickens used Mesa Petroleum against Union Oil in the 1980's.
by Sorry, the good guys lost September 02, 2010
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90s chat or text shorthand for, lower bodily orifice or 'asshole' . Heard it used in conversation pronounced as one word, elbeo and with each letter punctuated, "Oh my God, he was such an L.B.O.!".
Oh my God, he was such an L.B.O.!!!
by Hakeepuck January 05, 2018
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