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Barclays announced today that it has agreed to purchase Lehman Brothers’ North American investment banking and capital markets operations and supporting infrastructure.
Under the deal, Barclays will acquire trading assets worth an estimated US$72 billion ($90 billion) and trading liabilities of an estimated US$68 billion ($85 billion).
Barlcays president Robert E Diamond Junior said it was a “once in a lifetime opportunity” that would give Barclays the best team and most productive culture in the international financial markets.
The acquisition comes after Lehman Brothers filed for bankruptcy yesterday, marking the biggest bankruptcy in history.
Published: 17-09-08
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