Richard Ellis accepted a £50m offer from Insignia Financial (IF)for its core UK business. It rejected an offer from CB Commercial, a USrival of IF.
The international arm of Richard Ellis is already in negotiations tobe acquired by CB Commercial. IF is also making an offer.
IF is listed on the New York Stock Exchange and its current marketcapitalisation is $730m (£437m).
- Financial Times 30/01/98 page 20
- The Daily Telegraph 30/01/98 page 33
