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Brandywine Realty Trust will pay $3.25 bil -- $2.2 bil in cash, $1.05 bil in stock -- for Prentiss Properties Trust. The new entity will be one of the biggest office real estate investment trusts in the nation. Brandywine fell 3% to 29.69.
ACE, an insurer, warned it will post a loss of 50-70 cents a share in its Q3 due to the impact of Katrina and Rita. Views had predicted a 27-cent loss. Shares fell 3% to 45.58.
Wal-Mart Stores' Sept. same-store sales are expected to gain 3.8%. The giant discounter had forecast a 2%-4% rise. Shares dipped 6 cents to 43.76.
Charlotte ...