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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