Lazard stock rises in premarket on report of recent interest from Abu Dhabi sovereign wealth fund

Lazard Ltd.
LAZ,
+2.20%
stock is up 5.2% in premarket trades on Tuesday after the Financial News reported that Abu Dhabi’s sovereign wealth fund ADQ had launched talks earlier this y ear to take the investment bank private. The report also said that the firm’s recently-named CEO Pater Orszag is on a mission to “shake up Lazard” after the deal talks with ADQ did not bear fruit. Citing people familiar with the deal, the Financial News report said the talks hit a snag over the issue of operational independence.