Which of the following statements is false?

A) Private equity firms often need to borrow the money needed to buy a public corporation.
B) Once a private equity firm owns a formerly publicly held corporation, they tend to cut costs and enhance efficiency.
C) Critics of private equity firms say that companies that have too much cash and too little debt become targets for private equity firms to buy.
D) A private equity firm is a group of investors that takes a privately held corporation and uses an investment banker to turn it into a publicly held corporation.

D