Del Monte Corp and Barclays Capital have agreed to pay $89.4 million to Del Monte shareholders in one of the largest cash settlements on record in Delaware Chancery Court, lawyers for the plaintiffs said on Thursday. The settlement was reached with shareholders who challenged the 2010 private equity takeover of the company by a group of investors led by Kohlberg Kravis Roberts & Co LP (KKR.N). Del Monte will contribute $65.7 million and Barclays Capital, a unit of Barclays Plc (BARC.L), will pay $23.7 million, lawyers for the plaintiffs said in a statement. Del Monte had no comment on the settlement. Barclays did not immediately return calls seeking comment.
Shares of KKR traded higher by 1.92% or $0.2/share to $10.59. In the past year, the shares have traded as low as $8.95 and as high as $19.16. On average, 2261900 shares of KKR exchange hands on a given day and today's volume is recorded at 1206408.
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