Skip to main content

KKR Takes Lead In Lehman's IMD Sale

  • Author:
  • Updated:

Private equity giant Kohlberg Kravis Roberts has "expressed a high level of interest" in buying the so-called "crown jewel" of Lehman Brothers, the Neuberger & Berman money management firm, according to a report from CNBC's Charlie Gasparino that cited "people close to the negotiations."
For what it's worth, we're hearing the same thing from people familiar with the matter. Gasparino also reports that KKR rival Blackstone that so far it has almost no interest in Neuberger.
Meanwhile, Lehman has reportedly denied that an internal coup to oust Fuld is underway. Bank analyst Dick Bove, however, says that Fuld "has lost control of the game" and that Lehman may become the subject of a hostile take over. The story put forth by Reuters last week claiming that the Korea Development Bank was considering buying Lehman also took a hit today, when a top South Korean regulator poo-poohed the idea.
Shares of Lehman gapped lower today, after being boosted on Friday amid talk of the Korean buy possibility. They are currently down around 4.5 percent, trading around where they did midweek last week.