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LEHMQ.PK
Lehman Bros Hld

5/26/2012, 12:01 PM ET
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LEHMQ.PK Market Currents more »
  • Friday 6:54 AM Lehman Brothers (LEHMQ.PK) confirms a report that it has agreed to buy the 26.5% stake it doesn't own in Archstone from Bank of America (BAC) and Barclays (BCS) for $1.58B. As expected, Sam Zell's Equity Residential (EQR), which was also battling for the apartment giant, will receive a $150M break-up fee from Lehman and the two banks.
    Comment!
    [M&A, Top Stories]
  • Thursday 6:16 PM 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.
    8 Comments
    [Financials, M&A]
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