Sam Zell News
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Tribune Co., the biggest news media company in bankruptcy, paid lawyers and other advisers $233.3 million since filing for court protection from creditors in December 2008.
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Jonathan Gray, head of global real estate at Blackstone Group LP, will join the firm’s board of directors after his business brought in $1 billion in profit in 2011.
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Sam Zell’s Equity Residential raised its bid for a stake in Archstone held by Bank of America Corp. and Barclays Plc to almost $1.5 billion after Lehman Brothers Holdings Inc. said it wanted to take control of the real-estate company.
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Gafisa SA, Brazil’s third-biggest homebuilder by revenue, received a preliminary proposal for asset acquisition from Sam Zell and GP Investments Ltd.
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Lehman Brothers Holdings Inc. lost a bid to block Bank of America Corp. and Barclays Plc from giving Sam Zell’s Equity Residential an option to buy 26.5 percent of Archstone when a judge said Zell was entitled to the option.
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Equity Residential and AvalonBay Communities Inc., the two biggest publicly traded apartment owners in the U.S., said funds from operations climbed in the fourth quarter as rising demand allowed for rent increases.
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The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of the close of trading. Preferred shares are usually the most-traded class of stock.
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Equity Residential, the largest publicly traded U.S. apartment landlord, said fourth-quarter funds from operations climbed as the nation’s rents increased amid a 10-year low in vacancies.
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Tribune Co., the bankrupt Chicago- based newspaper publisher, is contributing $4.45 million to the $32 million settlement of an employee retirement-fund lawsuit that it’s no longer a party to.
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Willie Gault, the former NFL wide receiver and Olympic sprinter, was accused by U.S. regulators of taking part in a scheme to artificially inflate the stock of a medical-device company that he managed.
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