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plans to acquire substantially all of the North American businesses of

Lehman Brothers


for $250 million in cash, plus debt.

The U.K. bank also plans to buy the New York headquarters of Lehman and two data centers in New Jersey for about $1.45 billion.

Barclays was one of Lehman's two main suitors before talks collapsed over the weekend. Barclays backed out and the other suitor,

Bank of America

(BAC) - Get Bank of America Corp Report

, bought

Merrill Lynch



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Lehman's parent company,

Lehman Brothers Holdings Inc.

, filed for Chapter 11 bankruptcy protection on Monday.

In a joint statement, the companies said the businesses to be acquired include Lehman's investment banking, and fixed income and equities sales, trading and research operations. About 10,000 Lehman workers will join Barclays.

The transaction is subject to bankruptcy court approval.

Barclays said it intends to immediately begin discussions with international authorities to acquire similar operations of Lehman outside of North America. Barclays also has agreed to provide $500 million of debtor-in-possession financing to Lehman.

Meanwhile, Lehman said it's in advanced talks to sell itsinvestment management division, which includes money manager Neuberger Berman, to a third party.

The division was once valued by as much as $10 billion, but now could fetch much less considering Lehman's bankruptcy, the

Associated Press




, citing a person close to the negotiations, reported Lehman was focusing on trying to sell the business to private-equity firms. The sale is expected to happen in a few days.