Savills plc (LON: SVS), the global real estate services group, confirmed on Monday that it has completed its acquisition of US investment bank Eastdil Secured Holdings, LLC, with shares rising in early trading.
The stock traded at 935p on Monday morning, up 1.63% from Friday’s close of 920p, having ranged between 902p and 941p intraday. That leaves the shares well below their 52-week high of 1,091.27p but comfortably above the 52-week low of 767.05p.
In a stock exchange announcement published this morning, Savills said the deal, first announced on 12 March, formally completed on Friday with no material change to the original terms. Secondary reporting from CoStar and Green Street News had put the transaction’s enterprise value at £827m ($1,112.5m), though that figure was not restated in today’s RNS. The acquisition was funded through debt and the issuance of 27,658,792 new Savills shares, roughly 16% of the enlarged group, to Eastdil’s former owners, including Temasek, Guggenheim, Wells Fargo and senior staff, all under lock-up provisions preventing an immediate sale. The new shares are due to be admitted to trading on the London Stock Exchange tomorrow, 4 August, taking Savills’ total voting rights to 174,018,218.
Eastdil Secured is ranked the number one US real estate investment bank in transactions above $100m, giving Savills a scale of US capital markets exposure it previously lacked. Chief executive Simon Shaw said at the deal’s announcement in March that it would “supercharge our business for a generation.” The reaction has shifted markedly since then: shares fell as much as 8.7% on the day the deal was first unveiled in March, whereas today’s move on confirmation of completion has been positive.
Savills said further financial detail on the enlarged group, including the first numbers to reflect Eastdil’s contribution, will be disclosed alongside its results for the six months to 30 June, due on 13 August. Those results will give the market its first look at how the acquisition sits against the £2.55bn of revenue and £101m of pre-tax profit Savills reported for the 2025 financial year.
Attention now turns to the admission of the new consideration shares to trading tomorrow, and to the 13 August results, which will provide the first financial detail on the combined group.