FTC approves CB’s deal to buy Trammell Crow
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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.
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