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Rating:State Street is Said to be Eyeing Neuberger Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, October 30, 2008

State Street is Said to be Eyeing Neuberger

by: Armie Margaret Lee

State Street is among the prospective bidders for Lehman Brothers' investment management division, which includes Neuberger Berman, at the December auction, The New York Post reported.

The list of possible bidders also include private equity firms Silver Lake, TPG, Blackstone Group and Carlyle Group, according to the report. Earlier this month, a lawyer for Carlyle said the firm was interested in bidding for the Lehman unit at the auction (see The MFWire, October 17, 2008).

Private equity firms Bain Capital and Hellman & Friedman LLC, which late last month reached a deal with Lehman to buy the unit for $2.15 billion, will be the lead bidder at the auction. Bain and Hellman will get a $52.5 million break-up fee if they don't emerge as the winners. 

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