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Are There Any Buyers For Lehman Brothers?

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Lehman Brothers might have ended the "chatter" about the brokerage going the way of Bear Stearns--meaning towards an uncontrolled bankruptcy--but it hasn't stopped talk about whether or not it will--or needs to be--bought up by someone with deeper pockets.
UBS analyst Glenn Schorr said in a research note today: "We think some would have preferred a strategic buyer too." Felix Salmon, the Portfolio blogger, called Lehman a "slow motion train-wreck" but added that this might be good news.
"Still, at least the slow-motion bit is a good thing: it means that Treasury and the Fed have that much more time to find someone with credibly deep pockets willing to buy the bank outright," Salmon wrote.
Unfortunately, it's hard to figure out who could buy Lehman Brothers. Over at Deal Journal, Heidi Moore points out that J.P. Morgan Chase, Bank of America and Citigroup are not likely to step up. Private equity firms would require partners and financing, which is in short supply. She wonders if Lehman will end up in foreign hands. In particular, Barclays may be a buyer for Lehman.
"Barclays doesn't have much in the way of investment banking in the U.S. It could use a Lehman-size footprint," Moore writes. "And while Barclays is looking to raise capital as well-as much as three billion pounds, according to the Sunday Telegraph-the conventional wisdom holds that the United Kingdom bank still is looking for acquisitions."
The big problem with this idea? As Moore points out, both are major players in the bond markets. Would Barclays really add-value by getting even bigger here?
Lehman's Slow-Motion Trainwreck Continues [Market Movers]
Who Wants to Buy Lehman Brothers? [Deal Journal]