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发表于 2008-9-11 03:26 PM
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LEH CDS has gapped by about 200 bps from wide of 700bps to about 500bps on
the WSJ report that BAC is in talks to acquire LEH
Many of you also recall that BAC CEO Ken Lewis recently, and famously quipped,
"I've had just about as much fun as I can handle in investment banking"
The story says that LEH is actively shopping itself to potential suitors,
including BAC -- NOte that LEH is shopping itself, not vice-versa
WSJ says that buyers are wary about LEH's B/S, and are looking to Uncle Sam to
backstop a deal
WSJ says that talks are very fluid, and that others could come out of
woodwork if a Federal backstop is offered
Story says GS is not bidding. Also says that BNP Paribas, Santander, HSBC, and
DB are not expected to participate. Barclays is also mentioned as a possible
buyer. Seems like some of this crew could come to forefront if help is offered |
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