Tuesday, July 15, 2008

Lehman to go private-NY Post

According to the SEC, would this be rumor mongering or just reckless journalism?

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 rumors and questions about the firm's solvency have caused the venerable bond shop to shed more than 79 percent this year.

Details on how such a take-private maneuver might work are not clear. However, the rationale is that the free-fall in Lehman's shares, which tumbled as much as 15 percent 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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