Barclays, Buyers Rigged Bids In Del Monte Deal: Suit

Law360, New York (March 9, 2011, 1:56 PM EST) -- A Del Monte Foods Co. shareholder launched a class action Monday in California federal court, claiming Barclays Capital Inc. and three private equity firms rigged bids to block competitors from the recently completed $5.3 billion leveraged buyout of the food manufacturer.

Barclays and the three funds that acquired Del Monte — Kohlberg Kravis Roberts & Co., Vestar Capital Partners and Centerview Partners LLC — violated federal antitrust laws, according to a union pension fund's complaint filed in the U.S. District Court for the Central District of...
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