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December 2, 2008 8:35:55 PM CST



Lehman: Finding a Buyer Will Be Tough

Posted Sep 11, 08 8:30 AM CDT in Business 

(Newser) – 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.

Source Bloomberg

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People walk under a ticker sign announcing Lehman Brothers financial losses September 10, 2008 in New York.   (Getty Images)
The headquarters of the investment bank, Lehman Brothers in Manhattan September 10, 2008 in New York City.   (Getty Images)
A taxi cab is parked outside of the headquarters of the investment bank, Lehman Brothers Holdings Inc. in Manhattan September 10, 2008 in New York City.   (Getty Images)
Richard Fuld, chairman of Lehman Brothers, listens to a speaker during a press conference organized by the US Climate Action Partnership, January 22, 2007 at the National Press Club in Washington, DC.   (Getty Images)
Richard Fuld, chairman of Lehman Brothers, listens to a speaker during a press conference organized by the US Climate Action Partnership, January 22, 2007 at the National Press Club in Washington, DC.   (Getty Images)
A man reads his cell phone on front of Lehman Brothers New York headquarters.   (Getty Images)
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