Lehman CEO Asked GE To Buy 20% Stake - Report
By Daniel at 25 September, 2008, 8:01 am
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Lehman CEO Asked GE To Buy 20% Stake - Report
Last Update: 9/25/2008 7:22:33 AM
DOW JONES NEWSWIRES
Lehman Brothers Holdings Inc. (LEHMQ) CEO Richard Fuld reached out to his General
Electric Co. (GE) counterpart, Jeff Immelt, about buying a 20% stake in the
investment bank before it collapsed, the New York Post reported Thursday, citing
sources. But Immelt decided to take a pass when Fuld called the GE CEO before the
investment bank filed for bankruptcy protection Sept 15. Sources also told the
Post that Fuld months ago turned to American International Group Inc.’s (AIG)
then-CEO Martin Sullivan to try to arrange a deal. GE declined to comment, as did
AIG and Lehman.
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