A Chicago-based real estate services firm, Equis Corp., announced on Monday that it has agreed to merge into Australia's United Group Ltd. in a deal valued at about $120 million.

The deal allows Equis to operate as a unit of United Group, with Equis Chief Executive Michael Silver remaining at the unit's helm. He said he had been seeking a strategic partner since January in the hopes of expanding his company's global platform to meet the growing demand by corporate America for real estate space outside the U.S. The deal is anticipaed to close on July.

By M. Sese
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