Lehman CEO Dick Fuld issued a memo yesterday that many people inside Lehman consider an advertisement for the firm to be bought possibly by private equity or possibly a bank — at a level above its current market price.
The memo is part rallying cry and part marketing spin, reminding people inside Lehman and potential suitors of the firm’s various accomplishments and overall value. (See video).
While the memo doesn’t explicitly state that Lehman is for sale, it does seem that Fuld and his senior staff are now shopping the firm given the document’s tone.