Reuters - PE Firms Urge Judge to Dismiss Bid-Rigging Case
The world's biggest private equity firms, including Blackstone Group and Kohlberg Kravis Roberts, told a judge on Tuesday they competed fairly and feverishly for multibillion-dollar takeovers even though some investors of the acquired businesses argue that they colluded to drive down prices and split up deals, Reuters wrote. In what may become a landmark case for the private equity industry, the 11 defendants, including other top tier firms Carlyle Group, Goldman Sachs and TPG Capital, argued in federal court in Boston that the plaintiffs have shown no evidence that the firms conspired to fix prices on $250 billion worth of leveraged buyout deals between 2003 and 2007.
19 December 2012•3 mins read
