Lehman seeks buyer after shares dive: sources

Lehman Brothers Holdings Inc was forced into talks about a possible sale after the Wall Street investment bank's shares plunged more than 40% on Thursday, raising questions about its survival.
Lehman and U.S. officials were in intensive discussions about a number of options, including a complete sale, sources with direct knowledge of the talks said. One of the sources said the firm was resisting government intervention.
The Treasury and Federal Reserve were engaged in the talks, which could be completed this weekend, a second source said.
The U.S. government is hoping to avoid spending money on a bailout, another person familiar with the situation told Reuters.
Bank of America Corp or Barclays could be suitors for the 158-year-old firm, according to various reports. Bank of America, Barclays and Lehman declined to comment.
Lehman Chief Executive Dick Fuld, long resistant to ceding independence, has been trying to sell just a part rather than all the company, sources familiar with the situation said.
But investors, anxious for some kind of resolution, knocked down Lehman shares by 42% on Thursday as the dearth of information from the company stoked fears some clients and trading partners might take their business to more stable firms.
"Although many investors thought it would be avoided, customers of Lehman Brothers are becoming more and more skittish in their dealings with them," said William Lefkowitz, options strategist at vFinance Investments, a brokerage firm in New York.
Lehman stock closed down $3.03 at $4.22, and traded as low as $3.20 in after-hours trading. The shares have lost more than three-quarters of their value since Monday and more than 90% since last November.