Lehman: Finding a Buyer Will Be Tough

Experts worry there may be no one that can put the big deal together
By Jim O'Neill,  Newser Staff
Posted Sep 11, 2008 8:30 AM CDT
Lehman: Finding a Buyer Will Be Tough
People walk under a ticker sign announcing Lehman Brothers financial losses September 10, 2008 in New York.   (Getty Images)

Lehman Brothers is in the same bind as home sellers in a tight real estate market: they have a great asset for sale, but nobody has the money to buy, reports Bloomberg. The bank hopes to auction 55% of its asset-management fund, but experts say interested investors may not be able to finance a takeover that will cost billions.

Lehman CEO Richard Fuld yesterday put the unit on the market in an attempt to overhaul Lehman’s business, which has seen its stock tumble 90% since the start of the year. But private equity deals have dried up this year, falling 70% from 2007. “I don't think there is anyone who will lend them that kind of money in today's market,'' said one expert.
(More Lehman Brothers stories.)

Get breaking news in your inbox.
What you need to know, as soon as we know it.
Sign up
Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X