Our M&A lawyers are among the most experienced and effective in the world. We represent many of the world's largest publicly traded and privately held companies, as well as leading private equity firms on their most important mergers, acquisitions and takeover transactions.
Savills to Acquire Studley
- Client News
- May 1, 2014
Our client Savills plc, a global real estate services provider listed on the London Stock Exchange with more than 500 offices and associates throughout the world, executed agreements to acquire Studley, Inc., a New York-based privately held real estate services provider with 25 offices throughout the United States that focuses principally on commercial tenant representation, project management and transaction advisory services. The transaction, valued at approximately $260 million, includes approximately $67.7 million payable in cash at closing, a further $60 million payable in cash on the first anniversary of closing and up to an additional $70 million payable in cash on the third anniversary of closing. In addition, Savills will issue an aggregate of approximately $62.3 million of its ordinary shares to Studley's stockholders in equal one-third increments following the first three anniversaries of the closing. The transaction is expected to close at the end of May.
The Paul, Weiss team included, among others, corporate partners Toby Myerson, Carl Reisner, Mark Bergman, David Huntington and Ray Russo, counsel Scott Grader, Didier Malaquin and Philip Heimowitz; tax partner David Sicular; real estate partner Salvatore Gogliormella; and environmental counsel William O'Brien.