NEW YORK (Reuters) - Lehman Brothers (NYSE:LEH - News) failed to sell a large stake to Asian investors, a report said, and such failures may open the door to a hostile takeover of the investment bank, an analyst wrote.A newspaper report said Lehman sought to sell up to a 50 percent stake to China's biggest brokerage, CITIC Securities (Shanghai:600030.SS - News), or state-owned Korea Development Bank (KDB.UL), but the two Asian companies walked away after deciding the asking price was too high.
That represents a failure for a bank seeking to assuage investors concerned about its $60 billion of mortgage assets. The bank has looked at selling at least a part of its asset management unit to private equity firms, and is looking at selling commercial real estate assets.
So far, nothing has been announced. Lehman spokeswoman Monique Wise declined to comment on Thursday.
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