Lehman Brothers Caught in Far East Free-For-All

Latest Rumor from the Mill is that Tokyo Mitsubishi UFJ has now entered the ring in this free-for-all Lehman Brothers likes to refer to as “negotiations.”

Analyst Dick Bove says it is now an “open auction for Lehman Brothers.” Bove believes this will turn into a bidding war, and that HSBC will end up on top- achieving more of its quest to become the worlds premier bank.

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I do not think anyone will make a move now until Lehman’s earnings are on the table in just a few weeks - including the Korean Development Bank - there is no good reason to take such a big gamble.