Lehman Brothers officials believe that they are close to working out a deal to buy Neuberger Berman. Lehman officials released the news this morning in a press release.

The statement said that both Lehman and Neuberger officials expect the final details of the deal to be worked out in the near term. It also warned, though, that the deal may still unravel.

Although the release did not provide any details of the transaction or of a price, Lehman's bids is thought to top $3 billion, according to published reports. Neuberger Berman manages some $53 billion in assets. The bulk of those monies are managed on behalf of high net worth investors. The value bent of many of Neuberger's investment products has also made it more attractive in the current market environment.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE