HFF Stockholders Approve Acquisition by JLL
01 Julio 2019 - 12:00PM
Business Wire
HFF, Inc. (NYSE: HF) (“HFF” or the “Company”) announced that at
the annual meeting of stockholders of the Company today, the
stockholders approved a proposal to adopt the Agreement and Plan of
Merger, dated March 18, 2019, among the Company, Jones Lang LaSalle
Incorporated (“JLL”), JLL CM, Inc. and JLL CMG, LLC, pursuant to
which a wholly-owned subsidiary of JLL will merge with and into the
Company.
As previously announced, the Company expects the acquisition of
the Company by JLL to close on Monday, July 1, 2019, after the
close of regular trading hours on the New York Stock Exchange, and
subject to the satisfaction or waiver of other customary closing
conditions.
In other matters presented at the annual meeting, stockholders
voted against an advisory vote to approve the compensation that may
be paid or become payable to the Company’s executive officers that
is based on or otherwise relates to the merger and approved each of
the other proposals presented at the annual meeting.
Final voting tallies from the Company’s annual meeting of
stockholders are subject to certification by the Company’s
inspector of elections and will be included in a report to be filed
by the Company with the Securities and Exchange Commission (the
“SEC”).
About HFF
Through its subsidiaries, Holliday Fenoglio Fowler, L.P., HFF
Real Estate Limited, HFF Securities L.P. and HFF Securities
Limited, HFF operates out of 26 offices and is one of the leading
and largest full-service commercial real estate financial
intermediaries, providing commercial real estate and capital
markets services to both the consumers and providers of capital in
the commercial real estate sector. HFF offers clients a
fully-integrated capital markets platform including debt placement,
investment advisory, equity placement, funds marketing, M&A and
corporate advisory, loan sales and commercial loan servicing.
Forward-Looking
Statements
This communication may contain certain statements that predict
or forecast future events or results, or intentions, beliefs and
expectations or predictions for the future of JLL and the Company,
which are forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995, including
statements with respect to the anticipated effects of the proposed
transaction, expectations with respect to synergies, the proposed
transaction’s anticipated benefits to stockholders, the anticipated
timing of the closing of the proposed transaction and plans with
respect to the leadership of the combined company following the
closing of the proposed transaction. Words such as “believes,”
“expects,” “anticipates,” “estimates,” “intends,” “plans,” “seeks,”
“projects” or words of similar meaning, or future or conditional
verbs, such as “will,” “should,” “would,” “could,” “may” or
variations of such words and similar expressions are intended to
identify such forward-looking statements, which are not statements
of historical fact or guarantees or assurances of future
performance. However, the absence of these words or similar
expressions does not mean that a statement is not
forward-looking.
Actual results could differ materially from those projected or
forecast in the forward-looking statements. The factors that could
cause actual results to differ materially include, without
limitation, the following risks, uncertainties or assumptions: the
satisfaction of the conditions precedent to the consummation of the
proposed transaction, including, without limitation, the receipt of
regulatory approvals on the terms desired or anticipated;
unanticipated difficulties or expenditures relating to the proposed
transaction, including, without limitation, difficulties that
result in the failure to realize expected synergies, efficiencies
and cost savings from the proposed transaction within the expected
time period (if at all); potential difficulties in JLL’s and the
Company’s ability to retain employees as a result of the
announcement and pendency of the proposed transaction; JLL’s
ability to obtain and maintain an investment grade credit rating
and obtain financing on the anticipated terms and schedule; risks
relating to the value of JLL’s shares to be issued in the proposed
transaction; disruptions of JLL’s and the Company’s current plans,
operations and relationships with customers caused by the
announcement and pendency of the proposed transaction; the outcome
of legal proceedings related to the proposed transaction; and other
factors described in JLL’s annual report on Form 10-K for the
fiscal year ended December 31, 2018, which was filed with the SEC
on February 26, 2019, the Company’s annual report on Form 10-K for
the fiscal year ended December 31, 2018, which was filed with the
SEC on February 28, 2019 (as amended on Form 10-K/A filed with the
SEC on April 30, 2019), and other filings, including quarterly
reports, made by JLL and the Company from time to time with the
SEC. The factors described in such SEC filings include, without
limitation: the effect of political, economic and market conditions
and geopolitical events; the logistical and other challenges
inherent in operating in numerous different countries; the actions
and initiatives of current and potential competitors; the level and
volatility of real estate prices, interest rates, currency values
and other market indices; the outcome of pending litigation; and
the impact of current, pending and future legislation and
regulation.
Neither JLL nor the Company undertakes, and each of them
expressly disclaims, any duty to update any forward-looking
statement whether as a result of new information, future events or
otherwise, except as required by law. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date hereof.
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version on businesswire.com: https://www.businesswire.com/news/home/20190701005738/en/
MARK D. GIBSON Chief Executive Officer (214) 265-0880
mgibson@hfflp.com
GREGORY R. CONLEY Chief Financial Officer (412) 281-8714
gconley@hfflp.com
MYRA F. MOREN Managing Director, Investor Relations (713)
852-3500 mmoren@hfflp.com
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