After Sam Zell’s Equity Residential (EQR) agreed to buy a 26.5% stake in apartment owner Archstone, the estate of Lehman Brothers (LEHMQ.PK), which owns 47% of Archstone, is looking to raise money for a counteroffer and is in talks with Blackstone (BX) and Brookfield (BAM), Bloomberg reports. The EQR bid may be just the opening salvo in a potentially long bidding process, some analysts say.
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