The owners of Archstone have approached Vornado Realty Trust (VNO.N) and others including some private equity firms as they draw up a list of possible buyers for the apartment building company's assets, people familiar with the situation said. Archstone -- owned by Lehman Brothers Holdings Inc (LEHMQ.PK), Bank of America Corp (BAC.N) and Barclays Plc (BARC.L) -- is considering a sale of assets or an initial public offering, or a combination of both, sources have previously said. Vornado CEO Michael Fascitelli told Reuters on Wednesday that Archstone had reached out to his firm and others. According to sources familiar with the situation, the list of potential bidders also includes private equity firms TPG Capital and Blackstone Group (BX.N), as well as sovereign wealth funds.
Vornado Realty Trust (Vornado) is an integrated real estate investment trust (REIT). Shares of VNO fell by 0.58% or $-0.55/share to $94.33. In the past year, the shares have traded as low as $68.59 and as high as $97.93. On average, 1084150 shares of VNO exchange hands on a given day and today's volume is recorded at 1007933.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC fell by 1.03% or $-0.11/share to $10.54. In the past year, the shares have traded as low as $10.60 and as high as $16.10. On average, 133126000 shares of BAC exchange hands on a given day and today's volume is recorded at 159358176.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX remained unchanged at $16.18. In the past year, the shares have traded as low as $8.93 and as high as $19.63. On average, 3590810 shares of BX exchange hands on a given day and today's volume is recorded at 2916029.
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