Zell's $1.3B Bid For Archstone Survives Lehman Challenge

Law360, New York (December 21, 2011, 10:01 PM EST) -- A $1.33 billion bid by Sam Zell's Equity Residential to buy a 26.5 percent interest in apartment owner Archstone is still on track after a court hearing Wednesday in a suit by bankrupt Lehman Brothers Holdings Inc. challenging the deal.

But the suit in New York bankruptcy court is also still moving forward, and now the two banks that are trying to sell half of their combined stake in Archstone to Equity — Bank of America Corp. and Barclays PLC — will have to provide Lehman...
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