Goldman, Bain Capital to pay settlement in LBO lawsuit

|About: Goldman Sachs Group Inc. (GS)|By:, SA News Editor

Goldman Sachs (GS) will pay $67M and Bain Capital will pay $54M to settle a lawsuit claiming they conspired not to outbid each other on companies they wished to buy.

The settlement fees will go to the former shareholders of the companies they acquired in the LBOs.

Five other firms are also accused of conspiring not to jump each others' deals, including the Blackstone Group (BX), Carlyle Group (CG), KKR (KKR), Silver Lake Partners and TPG Capital Management.