The latest foreign suitor that might sweep in and rescue Lehman Brothers (LEH) is Japan’s largest bank, Tokyo Mitsubish (MTU). The Times of London, citing anonymous, highly-placed sources, says that the Japanese bank regards a prospective Lehman acquisition as a “once in a lifetime” opportunity. A spokesman for the Japanese bank said that there was “no truth to the report.” The Times:
Senior sources close to Tokyo Mitsubishi say that the possible acquisition is being treated as a “once in a lifetime” opportunity but that the notoriously conservative bank would proceed with caution.
Tokyo Mitsubishi, which has ample sources of funding for a multibillion-dollar acquisition, is expected to keep its powder dry until after Lehman announces its third-quarter results next week.
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