Koll Merger OKd: Shareholders of Koll Management...

Koll Merger OKd: Shareholders of Koll Management Services Inc. on Wednesday approved the company’s previously announced merger with a subsidiary.

As a result of the merger with KMS Holding Corp., Koll Management of Newport Beach becomes a privately held firm controlled by Donald M. Koll, chairman of Koll Management Services and Freeman Spogli & Co. Inc., a Los Angeles investment firm. Koll Management was formerly listed on the Nasdaq market.

Shareholders will receive $16 for each share of outstanding stock they own.

Koll Management Services provides property management services for more than 600 properties throughout the United States.