DTZ confirms C&W purchase for $2 bln

DTZ  confirmed it has made a bid offer to acquire its rival, Cushman & Wakefield (C&W), one of the world's largest consulting companies. The huge transaction is valued at $2 billion. As a result of the deal, a firm with combined revenues of over $5.5 bln will be established. According to the media reports, it will operate under the Cushman & Wakefield brand. DTZ is supported by a consortium of investors including private equity company TPG, PAG Asia Capital, an alternative investment manager, as well as the Ontario Teachers' Pension Plan.