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Savills inks $285M deal for Studley

May 01, 2014 - The Deal Pipeline

London real estate advisory firm Savills plc said Thursday that it agreed to acquire New York rival Studley Inc. from management in a deal valued up to $285 million in cash, stock and promissory notes.

The transaction will give Savills an entry into the U.S., while it gives Studley a chance to expand globally.

Studley, founded in 1952, provides tenant representation, project management and real estate transaction advisory services from its 25 offices across New York, Los Angeles, Was...