Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

The news media is giving us a hint:

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This article was published on January 30, 2014

BL Twenty years ago today: American Express to spin off Lehman Bros


American Express Co. said it will spend more than $1 billion to spin off its Lehman Brothers Inc. investment-banking unit as a publicly traded company. To prepare Lehman for public ownership, American Express will pump money into Lehman by buying $890 million in newly created Lehman common stock and $200 million in new Lehman preferred shares. The stock purchases are intended to provide a capital infusion that will put the newly independent Lehman…on a sound financial footing… The long-expected spin-off will reduce American Express's equity by $2.4 billion, based on the company's own valuation of Lehman and the cost of the share purchases.

http://www.thehindubusinessline.com/opinion/bl-twenty-years-ago-today-american-express-to-spin-off-lehman-bros/article5635416.ece