Here's an integration decision you don't see in every acquisition. Barclays plc, buying the U.S. investment banking and capital markets business of Lehman Brothers Holdings Inc. at a bargain basement price, apparently is choosing whether to assume the obligation of exchange traded notes issued by Lehman. As a group these popular investment products, which are essentially bonds structured to track the performance of various indices, have been shaken up by the market crisis, along with their cousins, exchange traded funds.
A decision by Barclays to
stand aside here would likely be a blow to investor confidence in the whole structured products asset class -- where Barclays is a major player. But according to InvestmentNews, that is what Barclays is likely to do. -
Kenneth Klee
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