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| Jones Lang LaSalle and Staubach to combine operations Chicago-based real-estate services giant Jones Lang LaSalle Inc and Dallas-based commercial real estate broker Staubach Co. announced that they have reached a definitive agreement to combine operations. Jones Lang LaSalle will pay $613 million for all of the outstanding capital stock of Staubach Holdings, Inc. The combined firm will operate under the Jones Lang LaSalle brand. The transaction does not include Staubach Retail Services or Cypress, Staubach’s investment development business. Roger Staubach, who founded Staubach 31 years ago, will join the Jones Lang LaSalle Board of Directors and will serve in the new role of Executive Chairman, Americas. Greg O’Brien, currently Staubach’s CEO, will be the CEO of Brokerage, Americas, leading the newly created business that will set strategic direction in tenant representation and agency leasing. John Gates, currently Staubach’s President and COO, will serve as President of Brokerage, Americas. The merger will leverage and strengthen Jones Lang LaSalle’s comprehensive global platform with Staubach’s powerful tenant representation platform and extensive reach into key U.S. markets. The combined firm will have 33,700 employees around the world and 11,500 in the Americas with the addition of more than 1,000 Staubach employees. The transaction also will add 14 new corporate offices to Jones Lang LaSalle’s 54 in the Americas, bringing the total corporate offices in the Americas to 68 and globally to 184. write your comments about the article :: © 2008 Construction News :: home page |