Compiled from Herald News Services
Published: Wednesday, October 08, 2008
Top money managers at Lehman Bros. Holdings Inc. will get retention bonuses valued at $400 million U.S. when their investment-management business is sold to Bain Capital LLC and Hellman & Friedman LLC.
Bain and Hellman on Sept. 29 agreed to buy most of the asset-management unit from bankrupt Lehman in a deal that values the business at $2.15 billion US, about half the buyout firms' initial bids.
The purchasers will deduct the employee awards from the amount they pay the investment bank for the assets, Lehman's lawyers said in a court filing.
Published: Wednesday, October 08, 2008
Top money managers at Lehman Bros. Holdings Inc. will get retention bonuses valued at $400 million U.S. when their investment-management business is sold to Bain Capital LLC and Hellman & Friedman LLC.
Bain and Hellman on Sept. 29 agreed to buy most of the asset-management unit from bankrupt Lehman in a deal that values the business at $2.15 billion US, about half the buyout firms' initial bids.
The purchasers will deduct the employee awards from the amount they pay the investment bank for the assets, Lehman's lawyers said in a court filing.