According to internal emails and other documents that are part of a lawsuit, Bain Capital and other private equity firms may have colluded to limit the prices of the companies they sought to buy, according to an article in the New York Times. For example, in Bain's 2006 purchase of HCA for $32.1 billion, its competitors agreed not to bid on the company as part of a broader arrangement to divide among themselves the companies targeted for buyouts.
The documents are part of a lawsuit by shareholders who say the PE firms' practices cost them billions of dollars. The lawsuit covers acquisitions that occurred between 2003 and 2007, involving companies including Neiman Marcus, Toys "R" Us and Michaels Stores.
See the full story here.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
