Lehman Brothers delisted from NYSE
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Lehman Brothers delisted from NYSE
DJN Escreveu:NYSE Suspends Trading Of Lehman Shares, Moves To Delist
DOW JONES NEWSWIRES
NYSE Regulation Inc. will suspend trading of Lehman Brothers Holdings Inc. ( LEH) common shares and 13 related securities in the wake of the Wall Street brokerage's dramatic downfall and bankruptcy filing on Monday.
In after-hours trading, Lehman shares were unchanged from the Wednesday close of 13 cents when the shares fell nearly 57%. Shares had been at a 52-week high of $67.73 in November.
Shaken by the plummeting home values, Lehman collapsed and filed for bankruptcy protection after the U.S. government refused to use taxpayer money to backstop possible losses for potential buyers. However, one of those suitors, Barclays PLC (BCS), later agreed to buy the company's U.S. brokerage firm. In addition, approximately five private equity firms are expected to bid on the company's investment-management division.
NYSE Regulation noted the uncertainty and timing of the outcome of the Chapter 11 proceedings.
-By Jay Miller, Dow Jones Newswires; 201-938-2331; jay.miller@dowjones.com
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