The WSJ is reporting that a group of private equity investors are buying out HCA, Inc. for an amount (in cash and assumption of debt) equaling $31.6 billion.  This purchase price narrowly tops the price paid by KKR for RJR Nabsico in 1989.  Of course, the RJR buyout is more cautionary tale than gold standard for buyouts.  KKR is also in the HCA syndicate, but Merrill Lynch has the greatest amount at stake.  Interestingly, we don't call these deals "leveraged buyouts" anymore, just "buyouts" by "private equity."  The "leveraged" is silent.

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