Axios Pro Rata: Board barrage
Plus, Blackstone turns up the heat. | Monday, October 31, 2022 Open in app View in browser Presented By Latham & Watkins Axios Pro Rata By Dan Primack · Oct 31, 2022 Top of the Morning Illustration: Brendan Lynch/Axios U.S. antitrust regulators may be coming for private equity. Driving the news: Several large buyout firms have received Justice Department inquiry letters about partners sitting on multiple portfolio company board seats within the same industry, per Bloomberg . DOJ's concern reportedly is that this overlap "could influence those companies to act in ways that maximize gains for all — instead of competing vigorously to provide the best services or lowest prices to consumers." Letters have gone out to private equity firms of all sizes, including industry giants li...