JUNE 28, 2019|TONY WILBERT
With Approvals in Hand, JLL Poised to Close on Acquisition of HFF Transaction to Grow Global Firm's Capital Markets BusinessJones Lang LaSalle is on the cusp of closing on its $2 billion acquisition of HFF Inc. in a transaction that will greatly expand JLL's capital markets business.
JLL and HFF said Friday they had received the necessary regulatory approvals to finalize the deal. JLL expects to officially close on the acquisition after regular trading ends Monday on the New York Stock Exchange. HFF shareholders are expected to approve the sale at the company's annual meeting, scheduled for 8 a.m. Monday in Dallas.
The companies have yet to detail precisely how or how many of Dallas-based HFF's employees and offices will be integrated into JLL's network.
In an April filing with the U.S. Securities and Exchange Commission, HFF Chief Executive Officer Mark Gibson said approximately 50 key HFF personnel have "signed multi-year employment agreements in connection with the transaction." Gibson did not identify them.
Gibson will become Chicago-based JLL's chief executive for capital markets in the Americas and co-chairman of its global capital markets board after the acquisition closes.