Uploaded by FinancialNewsOnline on Nov 16, 2011
This is what's in the news for Wednesday, November 16th. The Wall Street Journal reports that Sam Zell's Equity Residential (NYSE:EQR) emerged as the lead bidder to buy about half of Archstone, and offered over $2.5B in cash and stock to buy the 53% equity stake now held by Bank of America (NYSE:BAC) and Barclays (NYSE:BCS). The Wall Street Journal reports that J.P. Morgan Chase (NYSE:JPM) plans next year to issue the first U.S. commercial mortgage-backed securities supported by defaulted loans since the 1990s. Reuters reports that Peabody Energy (NYSE:BTU) acquired 90% of Macarthur Coal, allowing the U.S. coal miner to compulsorily buy the remaining shares and increase its offer to $4.98B. Finally, Bloomberg reports that Bayer AG (PINK:BAYRY) expects its Asian sales to grow over 60% by 2015, and said revenue in the region may exceed $15B by then.
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