Posted on 09/26/2008 10:03:13 PM PDT by 2ndDivisionVet
TOKYO — Nomura Holdings Inc paid only $2 for the European and Middle Eastern equities and investment banking operations of collapsed Lehman Brothers Holdings Inc, sources familiar with the transaction said Friday.
Nomura’s acquisition agreement with Lehman called for allowing Nomura to refrain from taking over the Lehman divisions’ assets, including the assets they had acquired for their proprietary trading, the sources said.
Seriously. I would have paid $5!!!! lol
I'll put it this way: what if someone offered you a car for two dollars, on condition that you assumed the $10,000 note on the car?
Your real cost wouldn't be the two dollars.
Well, Nomura gave the Lehman employees huge signing bonuses to sign up.
Lehman Bros. transfered the money for the last payroll out back to NYC the night they declared bankruptcy.
that is the big talk here....
thing is, they learned their lesson. my guess? they are going to make a LOT of purchases in the next six months that are going to stand most Americans on their heads. But they will be INTELLIGENT purchases, compared to those of the mid and late 1980s.
However, it is still a bargain. What Nomura gets is a fair number of servers, Lehman’s pretty fast equity trade execution system in London and the other exchanges in Europe.
In addition, they may snag a fair number of Investment Bankers, who will get paid what they got last year if they promise to stick around at least through next August.
Nomura had failed in NY before and generally around the globe, so this provides an opportunity to try again at a bargain price.
It likely does not want to know because it is so suicidally overleveraged that any finding which requires even the smallest increase in reserves will push the company into insolvency.
Under those circumstances I agree that two bucks is probably a damn generous offer.
Did they tear a corner off the $2.00 bill before the transaction was made? That way a prostitute knew she was getting paid after being scr—ed.
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