An investigation on behalf of investors, who currently hold shares of HFF, Inc. (NYSE: HF), was announced concerning whether the takeover of HFF, Inc. is unfair to NYSE: HF stockholders.

The investigation by a law firm concerns whether certain officers and directors of NYSE: HF breached their fiduciary duties owed to HFF, Inc. investors in connection with the proposed acquisition.

Dallas, TX based HFF, Inc. provides commercial real estate and capital market services to the consumers and providers of capital in the commercial real estate industry in the United States. On March 19, 2019, Jones Lang LaSalle Incorporated (NYSE: JLL) and HFF, Inc. (NYSE: HF) announced that they have entered into an agreement under which Jones Lang LaSalle Incorporated will acquire all the outstanding shares of HFF, Inc in a cash and stock transaction with an equity value of approximately $2 billion. U nder the terms of the agreement, HFF, Inc shareholders will receive $24.63 in cash and 0.1505 Jones Lang LaSalle Incorporated shares for each HFF share. Based on the closing price of Jones Lang LaSalle Incorporated stock of $163.02 on March 18, 2019, the cash and stock consideration to be received by HFF, Inc shareholders at closing is valued at $49.16 per HFF share.
However, the investigation concerns whether the offer is unfair to NYSE: HF stockholders. More specifically, the investigation concerns whether the HFF, Inc. Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

HFF, Inc. reported that its annual Total Revenue rose from $590.85 million in 2017 to $662.02 million in 2018 and that its Net Income increased from $94.96 million in 2017 to $115.98 million in 2018.

Shares of HFF, Inc. (NYSE: HF) closed on March 25, 2019 at $47.20 per share.