The move would create the biggest agent in the country by turnover
Jones Lang LaSalle, the US-based property giant, is reportedly in talks to buy King Sturge, the thirteenth-largest consultant in the UK.
The tie-up would create the biggest agent in the country by turnover, and would combine Jones Lang LaSalle’s strength in London with King Sturge’s coverage of the regions.
The price tag for King Sturge is thought to be about £160m. CB Richard Ellis, which also looked at the firm, valued it at £20-£30m less.
The partners at King Sturge are now expected to vote on the deal. King Sturge has 728 chartered surveyors - nearly 100 more than Davis Langdon.
Jones Lang LaSalle reported a turnover of $708.4m (£437.5m) for the third quarter of 2010, a growth of 20% compared with Q3 in 2009.