Lehman Brothers Holdings Inc. is selling about half the shares it owns in Equity Residential and AvalonBay Communities Inc., the two largest U.S. apartment companies, removing a weight on multifamily stocks.
Blackstone Group LP, the world’s biggest private-equity firm by assets, and Prologis Inc. agreed to buy a portfolio of 17 million square feet (1.6 million square meters) of warehouses for about $960 million, said two people with knowledge of the agreement.
The European Union will tighten its rules on bailouts for banks, setting out tougher requirements for creditors to face losses if public money is used, according to two people familiar with the matter.
Lehman Brothers Holdings Inc., which is gathering money for its next payment to creditors, said it received bids of almost $1.9 billion at an auction for $4.2 billion of claims on its defunct brokerage, Lehman Brothers Inc.
The liquidator for Lehman Brothers Holding Inc.’s Australian unit won federal court approval for a creditors’ vote on a proposed claims settlement giving them as much as about half of what they’re owed.