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Thursday, August 7, 2014

BRIEF-Blackstone, KKR, TPG Capital to pay $325 million in LBO collusion settlement, (NYSE: BX)

Blackstone Group LP : * Kkr, TPG Capital agree to pay combined $325 million to settle lawsuit alleging collusion in leveraged buyouts -- court filing * Kkr, TPG will apportion responsibility for the payment amongst themselves --court filing * Kkr, TPG do not admit liability or wrongdoing in agreeing to settle -- courtfiling

The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX fell by 0.37% or $-0.12/share to $32.50. In the past year, the shares have traded as low as $21.30 and as high as $36.08. On average, 4784270 shares of BX exchange hands on a given day and today's volume is recorded at 675478.