Nomura wins battle for Lehman's Asian operations

09/22/2008 | Financial Times (free content) · Wall Street Journal, The

Senior executives representing Lehman Brothers' operations in Asia and Nomura signed an acquisition agreement this morning, sources said. The Japanese firm is purchasing the whole division, which includes investment banking, fixed income and equities. During the weekend, Lehman executives met with several interested banking groups, including Standard Chartered and Barclays, but Nomura won out because of its aggressive bidding and integration plans. Meanwhile, Lehman employees, clients and others are objecting to a transfer of more than $8 billion from the company's London headquarters to its New York office.

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Financial Times (free content) · Wall Street Journal, The

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