Jones Lang LaSalle (JLL) Acquiring Staubach for $735M
Miscellaneous, Notable Deals June 13th, 2008A little less than a week ago we reported that the rumours of Jones Lang LaSalle (NYSE: JLL) merging with Staubach were true, or so we had heard. Today, Property Week News out of the UK is providing additional credence by publishing a price for the acquisition, $735M.
Property Week’s article indicates that the acquisition price represents a 10x multiple on Staubach’s EBITDA, and a 1.8x multiple on revenues.
No formal announcement has been made, but it seems imminent from what we heard. And from what Property Week is publishing, it will be announced as early as next week. Jones Lang LaSalle and Staubach have refused to provide any comment on the merger rumours.
The deal would represent a smaller acquisition for JLL than the Trammell Crow deal it had chased, but lost to lose it to CBRE.
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Loading ...Tags: CBRE, JLL, Jones Lang LaSalle, Merger, Staubach, Trammell Crow
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June 13th, 2008 at 11:30 am
Great knowledge! You rock.
June 13th, 2008 at 11:31 am
I suspect this is going to cause a lot of movement in terms of exclusive relationships once this goes through. Fortunately they’re both competent groups.
June 16th, 2008 at 1:15 am
[...] Globe Street is reporting that the Jones Lang LaSalle (JLL) and Staubach merger will be announced as early as today. They are also reporting that the acquisition price is $835M, a $100M than was previously reported. [...]