This master thesis is aimed at investigating a notable financial technique in M&A operations, i.e. Leveraged Buyout. This kind of deals caught on in the USA in the 1980’s, where they gained a bad reputation, due to the excessive debt used to finance the acquisition and the anecdotal greed that guided their sponsors, who were frequently more interested in asset stripping than in value creation for the overall entity. In recent years, the new legislation introduced to regulate these transactions and the consolidation of a less risky common modus operandi have allowed a conduct aimed at improving the acquired companies and reselling them for a profit, seeking, when possible, a win-win exit among all stakeholders, including employees, existing shareholders and creditors.