American broker dealer Lazard Capital Markets has confirmed that it continues to evaluate strategic alternatives that could yield a sale, management buyout or capital partnership, but denied any possibility of shutting down the business.
The New York-based financial advisory firm said it is reviewing its options in order to maximize value for its owners.
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The firm added that no decision has been reached, and there is no certainty that any strategic alternative will be chosen or, if chosen, will result in a completed transaction.
Scott Sunshine, a spokesperson for the company, said that the firm has made no decision on its strategic review and will continue to serve clients and operate as normal.
"Its business as usual, serving clients. There is no deal announcement imminent, and there are no plans to shut the firm down," Sunshine added.
The firm’s executives are reportedly scrambling to find new jobs as speculation swirls that the company is close to reaching a takeover deal or may shut down.
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