It appears that private equity firms Bain Capital and Hellman & Friedman have competition after all for Lehman Brothers' investment management unit, of which Neuberger Berman is a part. Two more bids have emerged for the business, The Wall Street Journal reports, citing Lehman lawyer Shai Waisman as its source. Waisman, however, declined to reveal the identities of the bidders.

The additional bids will compete with the $2.5 billion joint offer made by Bain-Hellman in September.

An auction was slated to begin at noon today. The deadline for the submission of counterbids, initially set for Monday at noon, has been pushed back three times. It lapsed early Tuesday morning. 

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