C

问题如下：

Firms with which of the following characteristics are most likely candidates for a management buyout (MBO)?

选项：

A.

Firms with large amounts of undervalued assets

B.

Firms with low levels of cash flow

C.

Firms with high dividend payout ratios

解释：

Companies with large amounts of undervalued assets (which can be sold to reduce debt) that generate high levels of cash flow (which are used to make interest and principal payments on the debt) are likely candidates for MBO transactions.