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Stock Market & Financial Investment News

News Breaks
November 26, 2012
18:09 EDTAVB, EQRLehman to sell Archstone to Equity Residential and Avalon Bay for $6.5B
Lehman Brothers Holdings, LBHI, announced that it has entered into a definitive agreement to sell full ownership of Archstone Enterprise to Equity Residential (EQR) and AvalonBay Communities (AVB) for cash and stock with an aggregate value of approximately $6.5B. LBHI and its affiliates including Lehman Commercial Paper Inc. will receive $2.685 billion in cash as well as 34,468,085 shares of EQR common stock and 14,889,706 shares of AVB common stock which, on a combined basis and using last Friday’s closing prices, have a value of approximately $3.8 billion. As a result, LBHI and its affiliates will own 9.8% of EQR and 13.2% of AVB based on the shares of each issued as consideration. The purchasers have up to 120 days to close the transaction; the transaction is not subject to a vote of the shareholders of either EQR or AVB and does not have any financing contingencies.
News For EQR;AVB From The Last 14 Days
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January 28, 2015
16:25 EDTAVBAvalonBay sees FY15 core FFO $7.20-$7.50, consensus $7.42
16:24 EDTAVBAvalonBay raises quarterly dividend 7.8% to $1.25 per share
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16:23 EDTAVBAvalonBay reports Q4 FFO $1.76, consensus $1.77
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15:37 EDTAVBNotable companies reporting after market close
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January 22, 2015
14:26 EDTAVBAvalonBay reports fire at Avalon at Edgewater apartment community
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10:03 EDTEQROn the Fly: Analyst Downgrade Summary
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05:42 EDTEQREquity Residential downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded Equity Residential to Equal Weight citing valuation and a lack of catalysts. The firm raised its price target for shares to $82 from $75.

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