Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Lehman Picks Finalists in Hypothetical Asset Management Sale Not Rated 5.0 Email Routing List Email & Route  Print Print
Wednesday, August 27, 2008

Lehman Picks Finalists in Hypothetical Asset Management Sale

News summary by MFWire's editors

Lehman Brothers has let three bidders for its asset management unit know they are finalists, even though it has not yet decided to sell the unit. The Financial Times reports that Kohlberg Kravis Roberts, Hellman & Friedman and Bain Capital remain in the running because their bids were high enough.

Out of the running are Blackstone and Carlyle. Blackstone was not sufficiently interested in the unit's hedge funds and did not want to bear the costs of retaining Neuberger Berman's managers, according to the report. Carlyle had offered to take Lehman's optimal deal terms of buying the entire unit and giving the brokerage the chance to buy it back at a future date, however, it only offered $7 billion.

The decision whether or not to sell the unit will hinge on the amount of writedowns Lehman has for the third quarter.  

Edited by: Erin Kello


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

5.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use