Apartment company Equity Residential (NYSE:EQR) said late Friday that it has agreed to buy a...

Apartment company Equity Residential (NYSE:EQR) said late Friday that it has agreed to buy a 26.5% stake in rival Archstone from BofA (NYSE:BAC) and Barclays (NYSE:BCS) for $1.33B. Equity hopes the move will enable it to ultimately buy the whole firm. The banks are retaining $26.5%, with the Lehman's (OTC:LEHMQ) estate owning the rest. (PR)