Tishman, Lehman acquires US apartment landlord for $22 bn

By A staff reporter 2007-05-29T00:00:00

Tishman Speyer Properties and Lehman Brothers have agreed to buy US apartment developer Archstone-Smith Trust for $13.5 bn (EUR 10 bn) and debt, Bloomberg reported. Tishman, the New York-based real estate investor, and Lehman Brothers will pay $60.75 a share, 19% more than the May 24 closing price. Including debt, ...

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