Saturday, September 13, 2008

Another Week-end Rumour

Barclays considers Lehman Brothers bid

Barclays Capital, its investment banking arm, is understood to be most interested in making an offer for Lehman's core investment bank in a scenario that would see the 158-year-old US bank split into three. Such a deal would propel Barclays into the top-tier of investment banks around the world, something that Bob Diamond, BarCap's president, is known to covet.

Posted by alan @ 10:22 PM (690 views)
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9 thoughts on “Another Week-end Rumour

  • Lehman’s down and out. Confidence is shot. As for Barclays, really can’t see it. Weren’t they arranging funding themselves in the far east and getting it not so long ago?

    Interesting snippet from AP

    “U.S. regulators face growing pressure from abroad to find a way out ahead of Monday’s reopening of Asian markets. Germany’s Finance Minister Peer Steinbrueck urged that a resolution be found before then, warning ominously, “the news that is coming out of the U.S. is bad.””

    So why would he (Peer Steinbrueck) express so much grave concern? What does he stand to lose?

    So Barclays could possibly buy Lehman’s for peanuts (Barings Style)!

    Who knows? We’ll find out by 10pm tomorrow when NZ opens, then whatever happens on that borse will be decided, the decision will be made before Tokyo opens. Either way, whoever buys (if anyone does buy), will be predetermined by one entity, meaning, Lehman’s could be the sacrificial lamb. If not, then it will be interesting to see which Bank is pushed to purchase Lehman’s, and who is behind the purchasing Bank.

    Just thinking aloud!

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  • If you think about it. According to everyone, if Lehman’s not saved it will be financial turmoil. Someone who know’s the answer will make a fortune on Monday morning when the news is announced that Lehman is friendless.

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  • Moving deckchairs on the titanic.

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  • planning4acrash says:

    NNNoooooo!!!!!! That’s London gone if Barclay’s bails out that gang of thieves. Anybody with any sense would be taking most of their money out of Barclay’s with a statement like this! And, if Barclay’s bails out Lehman’s with its $691,063,000,000 total assets, we will see the Bank of England bail both out when they both fall. Heck, there must be central bank offerings on the table for this,

    Barclay’s has net assets of 1,227,361,000,000 – I just can’t see them absorbing Lehman’s without a massive load of support from a central bank. A 50% rise in assets in 1moment, after rising to the prior level with 150yrs of sustainable growth. Which tax payer will get shouldered with it?

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  • planning4acrash says:

    Oops, maybe I got it wrong, Barklay’s number in pounds sterling, so, it would be a 25% rise? Gosh, not sure if my figures are that good.

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  • FYI, Barclays in one of the biggest investors in Lehman Brothers. (I wrote that in one of my blogs ages ago)

    So they might be salvaging their investment. Putting a little more money to get a controlling interest.
    And Lehman would be a fire sale hence cheaper than chips.

    They just need to say it is worth it or throwing good money after bad.

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  • any ideas on the direction barclays shares will be going on monday anyone?

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  • planning4acrash says:

    The bigger issue is that the big boys are taking all of the available credit now. Small fry businesses will be screwed, and householders should see mortgage rates boom in the next few months. The proles can only sit back and watch, as the big boys fight it out in a nihilistic global game of financial chess to see who takes all. One thing for sure, the consumer and normal families of the world will be the ones who will suffer.

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  • I saw on the BBC website that Barclays have quit the talks. I’m not surprised, Lehman’s are toxic waste.

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