I wonder if Lehman has been taking lessons from Yahoo.
This is what happens when a company loses value - and maybe values - and tries to hold on because they think they're still where they were three years ago.
Here's the story from Bloomberg - this won't be the last such piece:
Aug. 21 (Bloomberg) -- Lehman Brothers Holdings Inc., the fourth-biggest U.S. securities firm, is a candidate for a hostile takeover, Ladenburg Thalmann & Co. analyst Richard Bove said. He raised his rating on the shares to ``buy.''
``Management is unwilling to sell out at a deeply distressed value,'' Bove wrote in a note to clients. ``The stage is set for a hostile bid to take over the whole company.''
The Financial Times reported today Lehman failed to sell a 50 percent stake to Korea Development Bank and China's Citic Securities Co. The buyers walked away after deciding Lehman demanded too high a price, the FT said, citing people familiar with the Asian lenders.