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 There's another rumored report on Lehman Brothers Inc. Lehman could be considering a
sale of its entire investment management business, rather than just its
Neuberger Berman LLC business, CNBC
is reporting.
The CNBC report follows up speculation last week that Lehman would follow
Merrill Lynch & Co. in selling off mortgage assets and raising capital.
The report, citing an unnamed source, says that Lehman Brothers had
held conversations with possible bidders about a sale of the entire investment management division, which includes Neuberger Berman,
as well as stakes in hedge funds D.E. Shaw & Co. LP and GLG Partners LP and private
equity funds. CNBC didn't offer a price or potential buyers.
Lehman Brothers has been weighing various options to raise capital. Rumors have circulated about what options the bank has. One of those options, CNBC says, could include selling all or part of the firm to a private equity firm or "unloading multiple assets to multiple parties, including money management powerhouse BlackRock." The report comes after UBS analysts first speculated a few weeks ago that Lehman could sell its investment management unit Neuberger Berman, which was acquired in 2003 for $3.1 billion. Meanwhile Forbes is reporting Lehman Brothers could purge its mortgage holdings in a Merrill Lynch-like style. The two strategies work together: If Lehman unloads mortgage assets, it will have to take a write-down, forcing it to sell assets like Neuberger. Lehman could also raise capital through a secondary offering like Merrill, but that may prove impossible in its weakened state. So far Lehman has raised about $12 billion of capital this year. - Maria Woehr UBS says Lehman may sell Neuberger Rumors and shorting, con't: And now the fun begins Categories Deal Video
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