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Rating:Court Extends Deadline for Neuberger Counterbids Not Rated 5.0 Email Routing List Email & Route  Print Print
Monday, December 01, 2008

Court Extends Deadline for Neuberger Counterbids

by: Armie Margaret Lee

Firms coveting Neuberger Berman have a bit of extra time to submit their bids for Lehman Brothers' investment management unit. The bankruptcy court extended the deadline for counterbids from noon to 7:00 p.m. Monday, Reuters reports.

It appears that no rival bid emerged as of early afternoon, according to the Daily Deal.

In late September, Lehman unveiled a deal to sell the investment management unit to private equity firms Bain Capital and Hellman & Friedman for $2.15 billion. 

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