Carlyle Takes Issue With Neuberger Lowball

Posted by Bess Levin, Oct 15, 2008, 11:04am

Carlyle and former Neuberger Berman CEO Jeffrey Lane filed an objection today to the absurdly low price ($2.15 billion) Bain Capital and Hellman & Friedman agreed to acquire the Lehman Brothers family jewels for last month. According to Carlyle, the price was down right insulting, and "violates Lehman's obligation to maximize the value of its asset sales to pay off its creditors," in addition to Dick Fuld's bookies.

Carlyle, Lane to Launch Bid for Neuberger [WSJ]

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Comments

1

Posted by guest, Oct 15, 2008 11:10AM

Here is a link to the dinner notes of Elmer Fudd and Hanky... where hanky says he wants to hunt down and kill the hedgys...

http://www.usnews.com/dbimages/master/7151/GR_PR_081006DickThomas.png

#4 is the meat of the meal...

~SEG

2

Posted by redpandot, Oct 15, 2008 11:24AM

yeah that.

3

Posted by guest, Oct 15, 2008 11:29AM

First. Too much substance.

Full Stop.

4

Posted by guest, Oct 15, 2008 11:43AM

IMO Bain & Hellman did get a sweetheart of a deal for a solid brand, I think N&B’s partners are just pissed that they stuck with Dickie Fuld, and LEHMQ, a bit too long.

5

Posted by guest, Oct 15, 2008 11:47AM

Either the sell-side’s valuations on N&B’s biz were a completely out of whack, initial reports were saying N&B was to be valued at between $5 - $8BB, or Bain & Hellman drove a hard bargain for a solid brand. Either way I think N&B’s partners are just pissed that they stuck with Dickie Fuld, and LEHMQ, a bit too long.

6

Posted by guest, Oct 15, 2008 11:49AM

Sorry for the double post...

7

Posted by guest, Oct 15, 2008 12:33PM

@3. You weren't first, so why don't you fuck off, mm?

8

Posted by guest, Oct 15, 2008 1:14PM

@1 is that real?

9

Posted by guest, Oct 15, 2008 1:22PM

@8, yes... here is the full link... google "my dinner with henry"

http://www.usnews.com/blogs/the-home-front/2008/10/06/richard-fuld-my-dinner-with-henry-paulson.html

Richard Fuld: My Dinner With Henry Paulson

The House Committee on Oversight and Government Reform also released the following E-mail from Richard Fuld, the CEO of the now bankrupt Lehman Brothers. In it, Fuld offers his “takeaways” from a dinner with Treasury Secretary Henry Paulson.

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