Nothing says “our company’s doing so bad we don’t want anyone to know how bad we’re doing” like taking a firm private. If Lehman Brothers drops its public listing it will be the first bulge-bracket bank to do so. But given the clobbering the stock has sustained, we can’t say we blame them.
NYP: Lehman Brothers’ CEO Dick Fuld is seriously mulling a way to take itself private and out of the public eye, The Post has learned.
According to sources, talks internally centering on privatizing Lehman have gotten very serious consideration after a blistering onslaught of rumours and questions about the firm’s solvency have caused the venerable bond shop to shed more than 79 per cent this year.
Details on how such a take-private manoeuvre might work are not clear. However, the rationale is that the free-fall in Lehman’s shares, which tumbled as much as 15 per cent yesterday, is attracting hungry vultures hoping to snap up the ailing fixed-income shop on the cheap. “The idea is why sell to someone else at so cheap a price when they could buy themselves,” noted one source.
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