German Lender WestLB Headed for a Breakup

China Development Bank, and buyout firms Blackstone, Apollo and J.C. Flowers have all made preliminary bids for failing German lender WestLB, Reuters reported. The bank is probably heading for a breakup, Reuters wrote, as the bidders would likely spin off the firm’s risky assets, as well as wind down investment banking and international banking operations. The deadline for offers in the auction is February 11, Reuters said.

DealsNorth AmericaUSBriefs