Nomura beats rivals in race for Lehman's Asian business

21 Sep 2008

Nomura Holdings, Japan’s biggest independent brokerage, is set to announce the purchase of Lehman Brothers’ Asian operations later today after winning a bidding war, EuroWeek has learned.

One source close to the negotiations said that Nomura had tendered the highest bid for Lehman’s Asian unit, beating rival offers from Barclays Capital and Standard Chartered. The news provides welcome relief for the more than 3,000 Asian employees of Lehman Brothers, which filed for bankruptcy protection last ...

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