CBRE Group Inc. (CBG) announced Tuesday morning that it has agreed to acquire the Global WorkPlace Solutions business of Johnson Controls Inc. (JCI). for $1.475 billion in cash.
CBRE Group gapped up Tuesday and rose sharply during the first half hour of trade. The stock was range-bound for the remainder of the session and closed up by 2.30 at $38.71 on the highest volume in over 2 months. CBRE Group surged past the upper end of a week and a half long range and set a new high for the year.
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