LEH Lehm Bros Hldgs

   DOW JONES NEWSWIRES 

The bankruptcy estate of Lehman Brothers Holdings is looking to put together a deal to match the $1.3 billion bid made by Equity Residential (EQR) for a stake in Archstone, The Financial Times reports on its website Sunday. Equity Residential agreed to buy the stake from Bank of America Corp. (BAC) and Barclays PLC (BCS, BARC.LN). According to the report, the Lehman estate thinks Archstone's equity value is $1 billion above what the current bid values it to be. The estate has the right of first refusal to buy the stake, the FT said. The report also cited "people familiar with the matter" who said if the Lehman estate exercises its right, the banks will offer Equity Residential on option on a remaining 26.5% stake. The estate has 10 days to match the bid, The FT said.

Newspaper website: www.FT.com

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