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Monday, December 22, 2008

Judge Approves the Neuberger Sale

by: Armie Margaret Lee

U.S. Bankruptcy Judge James Peck on Monday greenlighted the sale of Lehman Brothers' investment management unit to a group led by Neuberger Berman's management, Reuters reports. The transaction is worth $922 million after adjustments, said Lehman Brothers' attorney Lori Fife.

The deal is not seen to close for several months. 

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