Aug 7 Three private equity firms have agreed to
pay $325 million to settle a lawsuit accusing them of colluding
with rivals to keep prices down on corporate takeovers prior to
the financial crisis by agreeing not to outbid each other.
Blackstone Group LP, KKR & Co and TPG Capital
Management LP will apportion the payment among
themselves, according to a filing in the U.S. District Court in
The settlement will benefit shareholders of merger targets,
and resolve the private equity firms' portions of the nearly
seven-year-old lawsuit. None of the firms admitted wrongdoing.
Six defendants have now agreed to pay a combined $475.5
million in their respective settlements, which require court
approval. Carlyle Group LP is the only remaining
(Reporting by Greg Roumeliotis and Jonathan Stempel in New
York; Editing by Tom Brown)