Barclays

http://online.wsj.com/article/SB122722705655746143.html?mod=googlenews_w...

Barclays PLC Chief Executive John Varley has 72 hours to close one of the toughest deals he has ever faced: persuading rebellious shareholders to approve funding the bank badly needs.

Mr. Varley and other Barclays executives are canvassing investors to sell them on a £7 billion ($10.48 billion) capital-raising plan that the bank scrambled together, accessing social and business relationships to help land investments from Qatar and a member of Abu Dhabi's royal family. A shareholder vote in favor of the deal isn't certain as Monday's deadline approaches, people familiar with the matter say.

Hey guys,

I would definitely appreciate some insight on which group to choose.

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My offers:

BofA Real Estate Investment Banking - SF
Barclays (formerly Lehman) - Menlo Park Tech Group
Jefferies Broadview - Foster City Tech Group

Waiting on:

Lazard - TMT Group in SF

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Thanks!

Dealbreaker is reporting layoffs. Can someone spill the specifics?

Hi,

Just wanted to see what peoples' thoughts were on how good the Barcap/Lehman combination will be a year or two down the line. Business area overlap is minimal (save DCM perhaps) and it appears that although a number of high profile bankers have left Lehman, most have remained behind. Also, although Barclays has a 2.7tn balance sheet it still seems pretty levered vs. competitors, with large exposure derivatives. Thoughts on its survivability?

Thanks

Lehman filed for bankruptcy protection on Monday, and by late Tuesday had sold its North American investment banking and trading operations to Barclays, Britain's third-largest bank, for the bargain price of $250 million.

http://ca.news.finance.yahoo.com/s/16092008/2/biz-finance-british-bank-b...

Does anybody know if Barclays is recruiting summer analysts in New York?

The app. doesn't list any positions available in New York, but I think it would be unusual if they a) already filled up positions or b) weren't hiring SAs in New York.

I sent an email to BarCap HR but I don't expect a response anytime soon b/c of what is going on w/ Lehman.

http://www.cnbc.com/id/26738992

"British bank Barclays has agreed to buy Lehman Brothers' core U.S. broker-dealer business for roughly $2 billion, a source familiar with the matter said on Tuesday.

The deal for Lehman's broker-dealer business includes equity, fixed income, M&A advisory and other parts, according to the source, who declined to be identified.

Shares of Lehman [LEH 0.20 -0.01 (-5.48%) ] were halted Tuesday afternoon for news pending at 19 cents, a decline of 11.43 percent. Barclays' [BCS 22.52 1.04 (+4.84%) ] U.S.-traded shares traded at around a 4 percent premium to Monday's close.

Barclays said earlier Tuesday it was in talks to buy some of Lehman's assets on terms that would need to be attractive to its shareholders. Lehman could not be immediately reached for comment.

A formal announcement of the pact is expected later on Tuesday or early Wednesday, the source said.