London: JPMorgan Chase & Co, the second-largest US bank, bought the former offices of Lehman Brothers Holdings in London’s Canary Wharf district for £495 million (€583.9m) to use as its investment bank’s European headquarters.

A Morgan Stanley-led group bid £1.7 billion for Canary Wharf Group Plc to counter Canada’s Brascan Corp in the nine-month takeover battle for the builder of London’s second financial district.