I think it depends on your current position in case you are intending to acquire a company. If you were outside managements, you would consider MBI way. Whilst, if you were currently an management in the company, you would consider MBO. As such, in this case, you will concern about ‘who buy’ as it is your position and several pro/ cons associated with.
But if we are in the owner’s perspective, I guess we will care about the bidding price between MBO and MBI. As well its potential growth after being sold to look back the bidding price whether it worth.