The US FTC requires an investing firm to relinquish voting rights for members of the board of directors and install an internal firewall before allowing the firm to acquire simultaneous interests in competing firms in gasoline terminaling services (Carlyle / Kinder Morgan)

The explosion of private-equity financing in global capital markets resulted in a record year for 2006. In that year alone, private- equity firms raised more than $400 billion, established over 600 new funds, and spent roughly $737 billion globally on buyouts [1]. In addition, the wide- spread availability of debt and equity financing has enabled the size of the buyouts conducted by private-equity firms to increase dramatically. In fact, more than ten of the largest fifteen buyouts of all time occurred in 2006, including the $33 billion buyout of HCA, the $21.7 billion buyout of Kinder Morgan, Inc., and the $26.7 billion buyout of Clear Channel Communications, Inc [2]. While the influx of private equity capital has had a tremendous impact on financial markets in recent years, many

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Authors

  • Weil, Gotshal & Manges (Washington)
  • Weil, Gotshal & Manges (Washington)

Quotation

Laura A. Wilkinson, Jeff L. White, The US FTC requires an investing firm to relinquish voting rights for members of the board of directors and install an internal firewall before allowing the firm to acquire simultaneous interests in competing firms in gasoline terminaling services (Carlyle / Kinder Morgan), 14 March 2007, e-Competitions March 2007, Art. N° 53256

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