Superstar reporter Michael De La Merced broke the Neuberger Berman story wide open this afternoon, revealing that an offer from forner Neuberger executives has won the context for the asset management arm of Lehman.
“Under terms of the winning bid, Neuberger’s management will spin off the unit as a stand-alone company, majority owned by its executives and employees. The Lehman estate would retain a significant portion of Neuberger, this person said,” De La reports.
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