Rumour of the day: Lehman ready to offload assets
Published Date:
20 August 2008
LEHMAN Brothers is considering options, including selling all or part of its asset management unit, with an aim of reaching a deal by the time it releases third-quarter earnings, sources last night said.
Analysts and bankers have recently said that Lehman may opt to part with its asset management business to further boost its capital. Experts estimate the business, including Neuberger Berman, could be worth about $8 billion (£4.3bn).
One source said Lehman is marketing its asset management unit to a number of buyers including private equity firms. A second source said Lehman is looking at several alternatives including selling a stake in the business.
The end of Lehman's fiscal third quarter is less than two weeks away.
The full article contains 129 words and appears in The Scotsman newspaper.
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Last Updated:
19 August 2008 9:03 PM
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Source:
The Scotsman
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Location:
Edinburgh
