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Rating:Deadline for Neuberger Bids Extended a Third Time Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, December 02, 2008

Deadline for Neuberger Bids Extended a Third Time

by: Armie Margaret Lee

The deadline for firms to turn in counterbids for Neuberger Berman had been pushed back yet again. The deadline went from noon on Monday, to 7:00 p.m. (see The MFWire, December 1, 2008), to 9:00 p.m., then to Tuesday at 2 a.m., Reuters reports. It was not clear whether there were any bids.

Lehman in September unveiled a deal to sell the investment management unit to private equity firms Bain Capital and Hellman & Friedman for $2.15 billion.

In October, a bankruptcy court set a deadline for other firms to turn in bids by noon on December 1. An auction is scheduled for December 3. 

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