2 hours ago - Business

KKR settles with DOJ for record $250 million

Dan Primack

Illustration of a gavel hovering over a broken piggy bank full of money — Illustration: Sarah Grillo/Axios

Private equity giant KKR has agreed to a $250 million settlement with the U.S. Justice Department, over its alleged failure to file proper pre-merger notifications on over a dozen deals in 2021 and 2022.

Why it matters: This is the largest civil penalty ever for HSR Act violations.

Yes, but: KKR may be smarting from the headlines, but not from the actual settlement.

All of the $250 million will be reimbursed by outside law firms, none of which KKR is publicly identifying.
It won't be required to have its co-CEOs sign future pre-merger notification filings — something DOJ floated but which KKR had strongly opposed.
Finally, DOJ originally wanted $650 million.

The bottom line: This settles all litigation and ongoing investigations between the two sides, including a countersuit filed by KKR, and doesn't create any new legal precedents for other PE firms.

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KKR settles with DOJ for record $250 million

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