Barclays (UK) talks to buy Lehman U.S. unit: sources

[Nambe]

Source: Reuters

LONDON (Reuters) - British bank Barclays is in talks with Lehman Brothers to buy its core U.S. broker-dealer business, including equity, fixed income, M&A advisory and other parts, people familiar with the matter said.

A deal could save thousands of jobs and many of Lehman's core investment bank operations, a day after the U.S. bank's holding company filed for bankruptcy protection.

Barclays said on Tuesday it was in talks to buy some of Lehman's assets on terms that would need to be attractive to its shareholders. It declined to comment further.

The talks mainly involve the core U.S. business, which has 8,000 to 10,000 staff, but could include some of its global businesses, the sources said. ...

Read more: http://www.reuters.com/article/topNews/idUSHO60856820080916?feedType=RSS&feedName=topNews&rpc=22&sp=true

[Renew Deal]

1. Barclays has been trying to get a US foothold.

So this might be their chance.

[alcibiades_mystery]

2. At 21 cents a share, I think I'll throw my hat in the ring as well

...

[mogster]

3. Hmmm... surprise? Think not. n/t

[dipsydoodle]

4. I think they're looking at buying

everything which is risk free. Bit hard to fault that.

Barclays eyes core Lehman assets

British bank Barclays is in talks to buy the core assets of Lehman Brothers - the US broker-dealer business and the mergers-and-acquisitions team.

Lehman - the fourth-largest investment bank in the US - filed for bankruptcy protection on Monday.

BBC Business Editor Robert Peston says Barclays does not want Lehman’s "toxic investments in the residential and commercial property markets".

Nor, he says, does it want Lehman's surviving, unsettled transactions.

http://news.bbc.co.uk/1/hi/business/7618312.stm

Yes - they want the staff too.

[holboz]

5. well that would explain

the TV ad I saw this morning from Barclay's with the re-worked lyrics of "what the world needs now" ...credit to them for getting that out there so quickly.