Lehman And Barclays Announce Acquisition To Employees

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The chief executive of Barclays and the president of Lehman Brothers just announced an acquisition of a part of Lehman by Barclays, according to someone present. It was unclear exactly what Barclays was acquiring but earlier news reporters suggested it would be the broker-deal arm of Lehman.
Barclays Bob Diamond and Lehman's Bart McDade took to the second floor of Lehman to speak to employees.
"It's time to dominate," McDade announced.
They are apparently now going floor to floor making the announcement.
"They just announced they are keeping the trading platform in New York," a person familiar with the matter said.
Update: Lehman employees have set up LaidOffByLehman.com, which is also reporting the tour by McDade and Diamond.

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