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December 3, 2008 – Neuberger Berman managers have bid for and won the right to buy the asset management business in a court-supervised sale, a source confirmed with IDD late Wednesday.
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The energy markets, over the past few months, proved that they are not immune to the travails of the economy. Lower crude prices, the woes of the credit market, and diminishing demand have conspired to sink oil prices, reflecting a pullback that is being experienced throughout the broader energy market. And the slump in one area impacts another, underscored by the questions facing alternatives, which no longer seem as compelling alongside cheaper traditional fuels.
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Firm: J.C. Flowers & Co.
In the news: 40 Under 40: Meet The New Boss
Just because M&A has dried up doesn't mean it can't be remembered fondly. Not long ago, when deals actually got done--say, in 2007--bankers had their special way of celebrating the close of a transaction. Deal toys, also known as Lucites or tombstones, have long been a Wall Street fixture. And while new toys are few and far between in the current environment, the old trinkets still clutter up desks on trading floors, window sills of managing director offices and spare nooks in conference rooms.
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