The US District Court of Washington dismisses antitrust challenge to a joint bid by private equity funds (Pennsylvania Avenue Funds / Borey)

Last week, a US federal district court became the first to conclude that an agreement by private equity funds to submit a joint takeover bid does not violate Section 1 of the Sherman Antitrust Act. If followed by other US courts, the decision may have important implications for private equity funds considering potential joint-bidding arrangements. See Pennsylvania Avenue Funds v. Borey, No. C06-1737 (W.D. Wash.). The plaintiff shareholder in this case alleged that after submitting multiple,

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Thomas A. McGrath, The US District Court of Washington dismisses antitrust challenge to a joint bid by private equity funds (Pennsylvania Avenue Funds / Borey), 13 février 2008, e-Competitions February 2008, Art. N° 41544

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