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US: Gov is going after a $19 billion hedge fund for violating antitrust rules

By  |  April 4, 2016

The US Department of Justice filed a civil suit against ValueAct Capital, a $19 billion hedge fund led by Jeff Ubben, alleging that it violated pre-merger notification requirements.

The DOJ said that ValueAct purchased around $2.5 billion in voting shares in Halliburton and Baker Hughes after the oil companies announced a $35 billion deal.

The government said this was a premerger notification violation of the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

“ValueAct’s substantial stock purchases made it one of the largest shareholders of two competitors in the midst of our antitrust review of the companies’ proposed merger, and ValueAct used its position to influence decision-making at both companies,” Assistant Attorney General Bill Baer said in a statement.

Full content: Forbes

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