UK Agency Lays £130M Fines On Bid-Rigging Builders

Law360, New York (September 22, 2009, 6:41 PM EDT) -- The U.K. Office of Fair Trading has slapped more than 100 construction firms with £129.5 million ($211.6 million) in fines for allegedly colluding with competitors on building contracts, capping one of the agency's largest-ever competition law investigations.

The 103 firms engaged in illegal, anti-competitive bid-rigging on 199 contract offers from 2000 to 2006, mostly in the form of “cover pricing,” the OFT said Tuesday.

Cover pricing occurs when one or more bidders in an offer process obtains an artificially high price from a competitor, the OFT...
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