Hunter Barclays Bank may become the hunted

John Varley, chief executive of Barclays, had been on the job less than a month when he bid for Absa Group last September, acting on a pledge to accelerate growth.

12th February, 2005

John Varley, chief executive of Barclays, had been on the job less than a month when he bid for Absa Group last September, acting on a pledge to accelerate growth. But the change in strategy may have come too late to prevent Barclays, Britain's third-biggest bank, from being bought.

Barclays may be an acquisition target because of its size, said Jane Strawbridge, an analyst at Christows.

Varley's predecessor, Matthew Barrett, bought just $10 billion (€7.8...

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