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The Vauxhall operation at Ellesmere Port in the north-west of England appears under serious threat as the UK car market continues to fall to new lows. As we covered in one of our earlier articles...
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Tuesday 16th September 2008
Despite receiving a substantial amount of criticism for its ill fated bid to takeover the whole of Lehman Brothers before it finally fell, the management at Barclays Bank seem intent on grabbing a slice of Lehman Brothers come what may. Despite a lack of cash on the balance sheet and the unlikely chance of being able to raise funds from shareholders or the money markets it seems that the group is bidding to take on the US broker-dealer and mergers-and-acquisitions divisions from the fallen giant.
If the reports are correct it looks as though Barclays could take on up to 10,000 ex-Lehman Brothers staff which it sees as excellent profit centres for the future. But what about now? What about the risk of taking on extra costs when the markets are on their knees?
There are two trains of thought, one is that the UK banking group should be looking to put its own house in order before even considering any acquisitions. The second view in the City is that an opportunistic bid may see the jewels in the Lehman Brothers crown grabbed for buttons, leaving Barclays well positioned for the future. Which option would you prefer as a shareholder in Barclays? |
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