Deal imminent for Lehman's asset management businesses
With Barclays acquiring the North American investment banking operation, either a strategic buyout or a management buyout of asset management is about to be announced.
The fate of Lehman Brothers Asset Management should be known by tomorrow and perhaps as early as today.Senior executives at the firm are confident the hard assets of LehmanÆs asset management division and its US subsidiary Neuberger Berman, which total $273 billion, will either find a strategic buyer or be spun off in a management-led buyout.Both LBAM and Neuberger continue to function and are not subject to the bankruptcy proceedings of the parent, Lehman Brothers Holdings Inc. The f…
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