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CB Richard Ellis (CBG) agreed to buy Trammell Crow (TCC) for $49.51 a share in cash, or $1.8 billion.

The deal offers a 25% premium to Monday's closing price of Trammell, a Dallas-based commercial real estate outfit.

"We are committed to providing outstanding value for our shareholders, and this combination accomplishes that objective," Trammell said. "Our shareholders will receive value through the purchase of their shares at a very attractive price. We also believe our clients will benefit from the capabilities and resources of this expanded global platform."

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