Bank of America, JC Flowers, Chinese Considering Lehman Purchase
September 12th, 2008Via: Washington Post:
Concern that Lehman Brothers Holdings Inc may fail to find a buyer because the U.S. government is reluctant to provide financial backing sent the investment bank’s shares tumbling to a nearly 14-year low on Friday.
Lehman’s bonds also dropped ahead of what is expected to be a series of frantic calls this weekend between Lehman, U.S. regulators and potential bidders. Bank of America Corp (BAC.N) is widely seen as a leading contender, with British bank Barclays Plc (BARC.L) also cited as a possibility.
The Financial Times reported that BofA, the No. 2 U.S. bank by assets, was considering a joint bid for Lehman along with private equity investor JC Flowers and sovereign wealth fund China Investment Co.
Posted in Economy | Top Of Page
I wonder ‘Hu’ will own Lehman’s seat on the Federal Reserve after their corpse gets ripped apart?
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