Barclays acquired Lehman

Last monday 15.09.08 which saw one of the major upheaval in the US financial market, when 158 year old, Lehman Brothers, US fourth largest Investment , filed for Chapter 11 bankruptcy. The day also saw the acquisition of US prime brokerage firm Merrill Lynch by BOA. While Merrill Lynch found its buyer at the US soil itself, but somehow Lehman failed to get attention from both US federal reserve and US ailing financial community.

With no taker for the ailing Investment Bank, Barclays UK 3rd larget bank sensed great oppurtunity in acquiring some portion of Lehman Brother. It filed for the acquistion of Lehman Brother North America division for whopping 1.75Bn$. The deal involves the sale of Lehman Investment banking fixed income and equity sales, trading and research divisons.

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Thanks&Regards,
Mohit Kumar