Blackstone Group LP, KKR & Co LP and TPG Capital LP are in talks to settle a U.S. lawsuit accusing them of conspiring not to outbid each other and other takeover firms on takeovers of companies, two people familiar with the matter said on Thursday. Details of the talks could not immediately be learned. If all three firms settled, Carlyle Group LP would be the sole private equity firm still facing trial among 11 firms originally accused of colluding in deals prior to the financial crisis.It could not be immediately established whether Carlyle is also engaged in settlement talks at this stage. A trial is scheduled for Nov. 3. Representatives for Blackstone, KKR, TPG and Carlyle declined to comment.Last week, Silver Lake Partners LP said it agreed to pay $29.5 million to settle the case. This followed a $67 million settlement with Goldman Sachs Group Inc's private equity arm and a $54 million settlement with Bain Capital LLC last month.The lawsuit was brought in December 2007 by shareholders of a group of companies that the private equity firms bought. Apollo Global Management LLC, Providence Equity Partners Inc, JPMorgan Chase & Co and Thomas H. Lee Partners LP later managed to get dismissed from the case.
Apollo Global Management, LLC (Apollo) is a global alternative asset manager. Shares of APO fell by 1.16% or $-0.32/share to $27.30. In the past year, the shares have traded as low as $24.06 and as high as $36.51. On average, 1430190 shares of APO exchange hands on a given day and today's volume is recorded at 1258664.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 0.47% or $0.16/share to $34.14. In the past year, the shares have traded as low as $21.30 and as high as $35.39. On average, 4959200 shares of BX exchange hands on a given day and today's volume is recorded at 10824226.
Shares of CG fell by 3.0% or $-1.04/share to $33.60. In the past year, the shares have traded as low as $24.66 and as high as $39.38. On average, 512445 shares of CG exchange hands on a given day and today's volume is recorded at 295711.
JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. Shares of JPM fell by 1.45% or $-0.85/share to $57.86. In the past year, the shares have traded as low as $50.06 and as high as $61.48. On average, 14557000 shares of JPM exchange hands on a given day and today's volume is recorded at 17015956.
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