Lehman has reportedly put itself up for sale. Anyone want to pool our savings and get our hands on this undervalued, formerly market-beating investment bank? I have about $270, so that only leaves a few more billion to become a legitimate seller. Anyone?
A day after Lehman Brothers sought to assure Wall Street that it could survive on its own, the beleaguered investment bank, urged on by federal officials, bowed to mounting pressure on Thursday and put itself up for sale.
As confidence in Lehman continued to drain away on Thursday, the bank, one of the oldest names on Wall Street, reached out to several potential buyers, including Bank of America and Barclays, the big British bank, according to people briefed on the negotiations. Lehman hopes to strike a deal within days.