Investment bank Lehman Brothers Holdings acknowledged in a filing with the Securities and Exchange Commission that it is in talks to merge with Neuberger Berman, according to wire service reports.

Lehman brothers stated to the press that the merger could, if consummated, "increase its high-margin high net worth and asset management businesses." According to a Reuters report, insiders are estimating that Lehman Brothers is willing to pay $3 billion for Neuberger, a price some are claiming is rather steep.

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