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US: Three more firms see M&A bidding collusion settlement approved

By  |  October 1, 2014

Several buyout firms have become the next to secure preliminary approval for their proposed settlement to end litigation that accuses the companies of colluding to keep merger bidding suppressed.

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    According to reports, Goldman Sachs, Kohlberg Kravis Roberts and Blackstone Group, along with four other firms, have secured clearance for their $590.5 million settlement. The lawsuit accused the firms of colluding to keep takeover bids low on 19 leveraged buyouts and eight additional related transactions.

    A final approval hearing for the settlement deal will be held next February, say reports.

    The settlement follows Carlyle Groups own $115 million offer, a settlement revealed to the public last month.

    Full content: Bloomberg

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