Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Lehman's Bankruptcy Means All of Neuberger is for Sale Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, September 15, 2008

Lehman's Bankruptcy Means All of Neuberger is for Sale

by: Neil Anderson, Managing Editor

As the Lehman Brothers bankruptcy news raises questions about the fate of Neuberger Berman, it looks like that deal just got bigger. Dow Jones' Marietta Cauchi and Jennifer Bollen report that, according to one anonymous source, Lehman's European chief, Christian Meissner, said that the entirety of Lehman's asset management business is now up for grabs, for an estimated $6 billion. And one source identified the fifth private equity bidder for the business as CVC Capital Partners.

So, if there are other interested parties who wanted 100 percent control of Neuberger and the rest of Lehman's asset management, such a chance could bring new buyers into the fray and perhaps put some upward pressure on the deal's pricing, even in light of Lehman's Chapter 11 filing (see MFWire, September 15, 2008).

Last week Lehman confirmed that had put a 55 percent stake in its asset management business on the block (see MFWire, September 10, 2008). Early reports prior to that announcement indicated that three private equity firms -- Bain Capital, Hellman & Friedman and Kohlberg Kravis Roberts -- were all bidding (see MFWire, September 4, 2008), and on Friday Cauchi bumped that number up twice to five, yet named only one additional bidder, Clayto Dubilier & Rice (see MFWire, September 12, 2008). And a fundster consultant speculated that Goldman Sachs and Putnam might also be interested (see MFWire, September 12, 2008). 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use