FTC approves CB’s deal to buy Trammell Crow
From the Associated Press
CB Richard Ellis Group Inc. of El Segundo has been cleared by the Federal Trade Commission to acquire Dallas-based rival Trammell Crow Co. for nearly $1.8 billion.
The deal is expected to close next month.
The deal, reached in October for $49.51 a share, would create a company with about $4.4 billion in annual revenue, more than 10% of the commercial real estate market, and let CB Richard Ellis tap Trammell Crow’s list of blue-chip corporate clients.
Trammell Crow shareholders are scheduled to vote on the deal Dec. 18.
