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Merrill Lynch & Co. and other overseas financial firms may bid to acquire failed real-estate developer Urban Corp. to obtain its $4.4 billion worth of assets, two officials involved in the matter said.

As many as 10 potential investors, including Merrill, U.S. and European funds and Japanese real-estate developers, have asked Urban to be included in the bidding process for the company, according to the officials, who declined to be identified as the information isn’t public.

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