JLL to buy HFF in $2bn deal

JLL has agreed to buy capital markets services provider HFF in a transaction valued at $2bn (£1.5bn).

JLL will acquire all the outstanding shares of HFF in a cash and stock transaction, which has been approved by the boards of directors at both companies.

Upon closing of the transaction, JLL shareholders are expected to own approximately 87% of the combined company, while HFF shareholders will retain around 13%.

The deal is expected to complete in the third quarter of 2019, subject to HFF shareholder approval and customary closing conditions, including regulatory review.

Mark Gibson (pictured