Lehman Calls Developer's $1.3B Archstone Bid Inadequate

Law360, New York (December 6, 2011, 7:14 PM EST) -- Lehman Brothers Holdings Inc. said Monday that lenders Bank of America Corp. and Barclays PLC failed to provide adequate information about developer Equity Residential's $1.3 billion bid for a 26.5 percent stake in Lehman's Archstone property portfolio, which Lehman called unacceptable.

Lehman, which won approval of its Chapter 11 plan Tuesday three years after collapsing and filing the largest bankruptcy in U.S. history, said in a filing with the U.S. Securities and Exchange Commission that Bank of America and Barclays failed to trigger its 10-day notice...
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