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Rating:Lehman Wants to Fast-Track the Neuberger Sale Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, October 07, 2008

Lehman Wants to Fast-Track the Neuberger Sale

by: Erin Kello

Lehman Brothers is pushing for a quick sale of its investemnt management unit, which includes Neuberger Berman. Reuters reports that the bankrupt holding company filed court papers Monday in efforts to expedite the sale process. According to the report, a lawyer representing Lehman said in the court documents that employee departures remain a risk if the sale does not proceed quickly. A hearing on the matter is set for October 16.

Lehman also revealed some details of a retention package for Neuberger employees in court documents on Monday (see The MFWire, October 7, 2008). 

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