AP source: Barclays pulls out of Lehman talksSunday

da Yahoo Finance

September 14, 2:13 pm ET
Person with knowledge of Lehman talks tells AP that Barclays has pulled out of negotiations

LONDON (AP) -- Barclays PLC has pulled out of talks to buy parts of Lehman Brothers Holdings Inc., according to a person at the British bank with knowledge of the negotiations. The move complicates efforts to find a buyer for Lehman and save it from collapse.

The person, who spoke on condition of anonymity, citing company policy, said the decsion was "very unlikely" to change.

The person said that while Lehman was attractive, the investment bank did not meet what he described as Barclay's stringent requirements.

U.S. government officials and top Wall Street bankers are trying to sell Lehman and avert a collapse that could severely disrupt global markets.