U.S. Jones Lang LaSalle to acquire HFF in $2 billion deal

U.S. commercial real estate and investment firm Jones Lang LaSalle Inc. (JLL) plans to acquire HFF Inc., a capital markets transactions services provider, in a cash and stock transaction valued at around $2 billion.

The acquisition will allow JLL to rapidly boost its U.S. capital markets presence, advance development of its debt advisory business in Europe and Asia Pacific.

Additionally, the transaction is expected to be accretive to adjusted earnings per share for the combined company in the first full financial year after finalization.

Upon completion of the deal, expected in the third quarter of 2019, JLL shareholders will own about 87 percent of the combined company and HFF shareholders the remaining 13 percent.