Dear Mani25,
Barclays is just one of the contender. Their withdrawl is not confirmed yet. BOA is now leading candidate in line :)
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Barclays close to leaving Lehman talks
By Francesco Guerrera in London and Krishna Guha in Washington
Published: September 14 2008 18:52 | Last updated: September 14 2008 18:52
Top Wall Street executives and regulators were on Sunday night racing to thrash out a rescue plan for Lehman Brothers as Barclays of the UK, one of two front-runners to buy the stricken bank, said it would walk away unless the US government provided a financial safety net for a takeover.
Barclays said it would withdraw from the race after failing to secure a US government guarantee over Lehman’s potentially huge trading and credit losses. However, in a sign of the increasing brinkmanship over the rescue the UK bank indicated that a change in the government’s position would bring it back to the table.
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Point to be noted: Barclays said it would withdraw from the race after failing to secure a US government guarantee over Lehman’s potentially huge trading and credit losses. As expected, Barclays would like to have that security! Faire enough for the GAME!
Gud luk & happy investing! :) |
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