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
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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