(Corrects paragraph 2 to ...initial consideration..., not
...initial cash consideration...)
May 1 British property consultant Savills Plc
said it would buy U.S.-based commercial real estate
services firm Studley Inc for up to $260 million to expand in
The London-listed company said it would pay an initial
consideration of up to $130 million.
The deal, expected to close by May 30, would be paid out in
cash, promissory notes and Savills shares in installments
between completion and May 31 2017.
Savills said the deal for the company specialising in tenant
representation would add to its underlying earnings per share in
the first year.
(Reporting by Esha Vaish in Bangalore; Editing by Joyjeet Das)