The U.S. Department of Justice announced a proposed settlement requiring KKR & Co. GP LLC to pay a $250 million civil penalty for repeated violations of the Hart-Scott-Rodino Antitrust Improvements Act. The penalty, the largest ever for HSR Act violations, resolves allegations that KKR failed to comply with premerger filing requirements for at least 16 transactions between 2021-2022. The Complaint stated KKR altered documents, omitted required filings, and failed to submit filings for some transactions. The HSR Act mandates premerger filings for mergers above a certain size to assess antitrust risks. KKR, a global private equity firm with over $744 billion in assets under management, made more than 100 HSR filings since 2021. The penalty reflects the DOJ’s commitment to enforcing the Act’s requirements to protect competition.
Source: U.S. Department of Justice (DOJ).
Materials reproduced from https://www.justice.gov/.
No endorsement by the DOJ is implied.
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