Barclays To Step Up To Lehman Plate

Law360 (September 16, 2008, 12:00 AM EDT) -- A day after tumbling into bankruptcy protection, Lehman Brothers Holdings Inc. has reportedly struck a deal to sell its broker-dealer business to the U.K. bank Barclays PLC.

Citing unnamed sources, the Wall Street Journal reported Tuesday afternoon that Barclays would pay nearly $2 billion to purchase a large portion of Lehman. The report said that the deal will be structured as an asset purchase, with Barclays buying Lehman's trading positions and any contracts that come with the business.

The deal will not include any of Lehman's...
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