Barclays to buy Lehman banking divisions, lehman brothers

September 16, 2008 7:03:11 PM PDT
Barclays says it will acquire Lehman Brothers' North American investment banking and capital markets businesses for $250 million in cash. Lehman filed for bankruptcy protection Monday after it was unable to find financing or fresh capital to shore up its balance sheet amid the continued downturn in the credit markets.

Barclays said Tuesday it will acquire Lehman's North American banking operations, which include Lehman's fixed income and equities sales, trading and research and investment banking business. About 10,000 employees work in the divisions.

Barclays will also purchase Lehman's New York headquarters and its two data centers in New Jersey for $1.5 billion.