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Rating:Is Neuberger Berman About to Hit the Auction Block? Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, July 10, 2008

Is Neuberger Berman About to Hit the Auction Block?

Reported by Erin Kello

Is Neuberger Berman about to hit the auction block? Parent company Lehman Brothers is considering a possible sale or spin-off of its very valuable asset management business, CNBC's Charlie Gasparino reported last week. Gasparino said that top Neuberger exec, Marvin Schwartz, was the one pushing for action.

Picking up the story in today's WSJ DealJournal, Heidi Moore puts in her two cents of why Lehman should hold onto its most valuable asset. Moore thinks that if Lehman sells off Neuberger, which one analyst valued at around $8 billion, it is signaling it is ready to submit to a bargain basement takeover from a larger firm.

Lehman has owned Neuberger Berman since 2003, when it paid $2.6 billion to acquire the firm. 

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