Posted on 08/22/2008 10:22:47 PM PDT by TigerLikesRooster
S. Korea's KDB says buying Lehman a possibility
By Kim Yeon-hee
SEOUL (Reuters) - State-run Korea Development Bank KDB.UL said on Friday that Lehman Brothers Holdings Inc (LEH.N: Quote, Profile, Research, Stock Buzz) is one of its options for acquisitions, as the struggling U.S. investment bank considers securing much-needed capital from investors.
The potential interest lifted Lehman's shares 11.3 percent, a day after a report said KDB and another Asian investor had walked away from a potential deal with the U.S. investment bank.
KDB said Friday it was open to mergers or acquisitions of both domestic and foreign companies to beef up its weak areas.
"We are studying a number of options and are open to all possibilities, which could include (buying) Lehman," a KDB spokesman told Reuters.
He was not specific about whether KDB was seeking to buy a controlling or a minority stake in Lehman.
(Excerpt) Read more at reuters.com ...
Are talks really going on or is this a mere spin to shore up share prices temporarily?
If the Koreans are crazy enough to want that millstone around their necks, they can have it.
The will overpay for the crown jewel, Lehman’s asset management business.
Just like BofA overpaid for countrywides crown jewel, their mortgage processing division.
Shortterm. lots of pain. Longterm, they will be dedicate chapters in books about deals of the century.
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