The deadline for firms to turn in counterbids for Neuberger
had been pushed back yet again. The deadline went from
noon on Monday, to 7:00 p.m. (see
December 1, 2008), to 9:00 p.m., then to Tuesday at 2 a.m.,
reports. It was not clear whether there were any bids.
Lehman in September unveiled a deal to sell the investment management unit to private equity firms Bain Capital
and Hellman & Friedman
for $2.15 billion.
In October, a bankruptcy court set a deadline for other firms to turn in bids by noon on December 1. An auction is scheduled for December 3.
Stay ahead of the news ... Sign up for our email alerts now