Grubb & Ellis Pursues Sale To BGC Through Ch. 11

Law360, New York (February 21, 2012, 2:41 PM EST) -- Commercial real estate services company Grubb & Ellis Co. on Monday filed for Chapter 11 protection in New York to sell itself to BGC Partners Inc. in a bid to preserve its business.

BGC, a New York-headquartered broker of financial products, wants to add Grubb & Ellis to a portfolio that already includes Newmark Knight Frank, one of the largest commercial real estate services firms in the U.S. The value of the deal was not immediately available Tuesday.

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