More On

Del Monte, Barclays agree to settle shareholder lawsuits

$89.4 million proposed settlement could prompt Wall Street banks to assess M&A policies

Del Monte Corp. and Barclays Capital proposed a cash settlement of $89.4 million with Del Monte’s shareholders on Thursday to resolve a dispute over Barclays’ questionable ethics when advising Del Monte to sell to private equity firm Kohlberg Kravis Roberts & Co. (KKR) last November.

The shareholders’ lawsuit was unique because it listed both the bank and company as defendants instead of the company itself. According to the Wall Street Journal, the settlement is one of the largest for shareholders challenging M&As.

Danielle Feinstein

Bio and more articles

Join the Conversation

Advertisement. Closing in 15 seconds.