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I don't know if the deal closed yet, but if it didn't it probably never will. Keep in mind that it was foolish to by into this company now even if the share price was above $28. There is absolutely NOTHING to form a long investment thesis to back investing in this company how. It main investment assets are the most unwanted and noxious in the world, it just passed the top of its profit cycle, MAcro conditions are horrible and getting worse, etc. etc.

The stock is about to break $25 as I type this. Now, it is plausible to assume a run on Lehman. They will assuredly be hitting the Fed's piggy banks to buffer customer defections en masse.

How many of these can the Fed fund? Notice the Riskiest Bank on the Street's price action, right behind Lehman's, and this bank has a lot more net counterparty exposure.