Update . . . it happened.

Jones Lang LaSalle will acquire Staubach Co. for $613 million in cash and stock

June 16, 2008: 06:31 PM EST

NEW YORK (Associated Press) - Commercial real-estate services company Jones Lang LaSalle Inc. said Monday it agreed to pay a total of $613 million in cash and stock for The Staubach Co., a real-estate services company specializing in tenant representation.

Jones Lang LaSalle will pay $123 million in cash and $100 million in stock when the deal closes, and pay the rest in cash payments over five years.

Jones Lang LaSalle could also pay $114 million more in potential earnout payments to Dallas-based Staubach.

The deal is expected to close in the third quarter.

Chicago-based Jones Lang LaSalle expects the deal to help its earnings in 2009 and beyond.
The deal does not include Staubach Retail Services or Cypress, Staubach's investment-development business.

Staubach Co. may be getting new owner

Monday, June 16, 2008 - 11:13 AM MDT

The Staubach Co., one of metro Denver's largest commercial real estate firms, soon may be purchased by Jones Lang LaSalle Inc. for $835 million, according to GlobeSt.com.
A deal, which long has been rumored in national real estate circles, is expected to be announced on Monday.

The Dallas Morning News reported last week that a sale was expected this week.
The Staubach Co., based in Dallas, was founded by former Dallas Cowboys quarterback Roger Staubach in 1977, and specializes in representing tenants and property owners in real estate dealings. The company now has 70 offices in North America and 1,600 employees.
The brokerage firm opened an office in downtown Denver in 1996. The local company is called The Staubach Co. Front Range LLLP, and is headed by President Barry Dorfman and Executive Vice Presidents Joe Hollister and Bruce Dodge.

In 2007, the local Staubach operation brokered 8.9 million square feet in real estate deals, according to the Denver Business Journal's May 2 list of commercial real estate brokerage firms.
Publicly traded Jones Lang LaSalle (NYSE: JLL), based in Chicago, has been in metro Denver since 1973, and has been beefing up its local presence the last few years. In 2007, the firm added several professionals to its Denver office, including CRESA Partners LLC executives and tenant-representation specialists Todd Roebken, Paul Keilt and Mike Gregory. Mark Lucas is JLL's market director for metro Denver.

CRESA recently merged with another local tenant-rep firm, Liberty-Greenfield LLLP.
Jones Lang LaSalle brokered 1.04 million square feet of Denver-area deals last year, according to the DBJ commercial brokerage list.

The Chicago brokerage firm has more than 170 office worldwide and 2007 global revenue of $2.7 billion.