Bove Upgrades Lehman To Buy, Hostile Takeover "Possible"

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Potential buyers apparently include: "A bank in Canada, Great Britain or Japan." Bove's reason for upgrading the stock was not tied to better performance, or rumors of Einhorny joining the board, but, he said, management's unwillingness to sell out for a ten-spot and a bag of Cheetos.
At this juncture, the higher-ups at Lehman are probably confused as to how they should feel about all this. On the one hand, thanks for moving our anvil of a stock with the buy. That was a $$$ call. On the other, "management is unwilling to sell out at a deeply distressed value...[setting] the stage for a hostile bid to take over the whole company"? S a D, old man. Will they fly off the handle and sue RXB for defamation a la Bank Atlantic? Our fingers are certainly crossed. That shit would undoubtedly be hilarious.

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