Bit of a (speculative) scoop from the Wall Street Journal, suggesting that Barclays “is on the prowl for another major acquisition in the US”.
More from the WSJ story, which cited ‘people close to the matter’:
Barclays is hunting for a retail bank that would give it more deposits and extend the presence of Barclays Capital in the U.S., these people said. The bank, in response to potential changes in banking regulation, has designated an internal team to assess possible targets, these people said. It isn’t in talks with any businesses in the U.S. and no deal is imminent, they said.
The bank is also reviewing additional retail acquisitions in Western Europe, they said, which would add to recent purchases such as Citigroup Inc.’s credit-card portfolios in Portugal and Italy.
Swallowing Lehman clearly not enough to sate Barclays’ appetite, then.
How far has Barclays got in identifying something it might like to buy? Not very far at all is our best guess right now.