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Lehman Brothers (LEHMQ.PK) strikes a deal to buy the 26.5% stake it doesn't already own in...

Lehman Brothers (LEHMQ.PK) strikes a deal to buy the 26.5% stake it doesn't already own in apartment giant Archstone from BofA (BAC) and Barclays (BCS) for $1.58B, WSJ reports, ending the high-stakes chess game between Lehman and Sam Zell's Equity Residential (EQR). But Zell won't walk away empty handed, as his firm will get $150M in the deal.
Comments (8)
  • Eyebooger
    , contributor
    Comments (10) | Send Message
     
    I thought Lehman was bankrupt? How are they buying stuff?
    24 May 2012, 06:25 PM Reply Like
  • Kraken
    , contributor
    Comments (540) | Send Message
     
    Only in America can a completely bankrupt company that caused one of the largest financial disasters in the world can shell out $1.5 billion to buy some apartments. Great country.
    24 May 2012, 06:51 PM Reply Like
  • Van Hyder
    , contributor
    Comments (162) | Send Message
     
    Apparently I don't understand the definition of "bankrupt". I'm going to run & get the dictionary. . .
    24 May 2012, 09:07 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (8143) | Send Message
     
    Lehman's estate is buying back the portion to be distributed to creditors with capital held back from distribution just for this purpose.

     

    This is perfectly normal in a bankruptcy.

     

    The Madoff prosecuting counsel did the same thing with his assets.
    24 May 2012, 09:10 PM Reply Like
  • Rubicon Associates
    , contributor
    Comments (1785) | Send Message
     
    Lehman's estate is buying this in the hopes of doing an IPO and distributing the proceeds to the creditors. It is the best path towards maximizing creditor recovery. You know deep value folks when they get the bk process!
    24 May 2012, 09:40 PM Reply Like
  • J 457
    , contributor
    Comments (947) | Send Message
     
    Yesterdays Lehman is tomorrows BAC. Will you taxpayers be dumb enough to flip the bill this next time around? Probably....
    24 May 2012, 10:17 PM Reply Like
  • hksche2000
    , contributor
    Comments (790) | Send Message
     
    Aren't we all sick & tired hearing about Lehman?! How many lives do these Wall Street suckers have? We've had enough of you crooks already. Do the Enron, Worldcom thing, just go away!
    25 May 2012, 12:06 AM Reply Like
  • surfnspy
    , contributor
    Comments (415) | Send Message
     
    When the creditors are "satisfied" will Lehman be a company again? What would you be buying in an IPO to pay back creditors? I admit, after reading the article I don't get it
    25 May 2012, 10:20 AM Reply Like
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