Lehman Investment Unit Gets Bids From Bain, Clayton (Update1)
By Jason Kelly and Jonathan Keehner
Sept. 12 (Bloomberg) -- Lehman Brothers Holdings Inc. received offers for its asset-management unit from private- equity firms including Bain Capital LLC and Clayton Dubilier & Rice Inc., said people familiar with the situation.
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The buyout companies are angling to own a business with assets of $273 billion headed by former Goldman Sachs Group Inc. banker George Walker, 39. The New York-based firm proceeded with the auction because the private-equity firms continued to express interest in a deal, according to the people. While Lehman aimed to complete the sale by late next month, the process may be disrupted by a takeover of the company, perhaps as soon as this weekend.
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George Herbert Walker IV
George Herbert Walker IV (born April 1969) is a Managing Director at Lehman Brothers and is a second cousin to U.S. President George W. Bush. ...
Bank Tied To John McCain's Son Goes Under
WASHINGTON, Sept. 6, 2008
(AP) Regulators on Friday shut down Silver State Bank, saying the Nevada bank failed because of losses on soured loans, mainly in commercial real estate and land development.
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Andrew K. McCain, a son of Republican presidential nominee John McCain, sat on the boards of Silver State Bank and of its parent, Silver State Bancorp, starting in February but resigned in July citing "personal reasons," corporate filings with the Securities and Exchange Commission show. Andrew McCain also was a member of the bank's audit committee, responsible for oversight of the company's accounting.
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