| Is CB Richard Ellis Services Inc. seriously considering a buyout offer? One was reportedly made recently by Blum Capital Partners LP. The company that its Special Committee of the board of directors has retained Morgan Stanley Dean Witter as its financial advisor, and McDermott, Will & Emery as its legal advisor, to assist the Special Committee in its evaluation of the proposal.
Blum Capital has offered to purchase all of CB Richard Ellis’ outstanding common stock. The price tag of the stock was not disclosed.
Headquartered in Los Angeles, CB Richard Ellis is among the world’s largest real estate companies. It has about 250 principal offices in 36 countries. The company’s services include property sales and leasing, mortgage banking, research and consulting. Its 1999 revenues were about $1.2 billion.
CB Richard Ellis trades on the NYSE under the symbol CBG. |
