Search
 

DTZ Asks UGL for Takeover Bid

LONDON-Locally-based DTZ sought out UGL this morning after it its stock value dropped Monday about 90% following a debt announcement.

By Robert Carr | Updated on November 08, 2011

LONDON-DTZ, a global real estate firm with offices in 145 cities in 43 countries, has announced that it has selected Sydney-based UGL Ltd. as a preferred bidder to take over the company. The combined potential firm of DTZ and the UGL Services could create one of the world’s largest real estate services operations, with a combined pro forma revenue of about $1.6 billion.

According to a DTZ statement this morning, the potential merger would end up with about 24,000 employees and 225 offices in 45 countries. “The key strategic benefit would be the bringing together of DTZ’s business scale in Europe, Middle East and Asia Pacific with UGL’s end-to-end corporate real estate and facilities management services to corporations, governments and institutions in Australia, New Zealand, North America and the Middle East,” according to the statement.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.