Savills builds on its US business

Property consultant Savills plans to buy US-based commercial real estate services firm Studley for up to $260m (£153.9m) to expand in North America. The FTSE 250 company said it expected to seal the deal by 30 May, following which it would rebrand its US arm as Savills Studley. The United States is Savills’ smallest market and accounted for just under one per cent of its £904.8m revenue last year. The company has larger operations in the UK, Europe and Asia.