Jones Lang LaSalle, Staubach to Merge

Jones Lang LaSalle Inc., a Chicago-based firm specializing in financial and professional services, and The Staubach Co., a Dallas-based real estate services firm, have announced a $613 million merger agreement. Under the agreement, Jones Lang LaSalle will pay $123 million in cash and $100 million in stock at the close of the transaction, with the remainder to be paid in cash over five years. The pact also calls for potential earn-out payments of up to $114, subject to the achievement of certain performance levels, the companies said. The combined firm will operate under the Jones Lang LaSalle name. "The Staubach Company is recognized for exceptional tenant representation expertise and is a leading presence in markets throughout the United States," said Colin Dyer, chief executive officer of Jones Lang LaSalle, which can be found online at http://www.joneslanglasalle.com.