CBRE Group, Inc. (NYSE:CBRE) is looking for M&A. Emma Giamartino, Chief Financial Officer said, "So what we've always talked about is a balance of M&A, our investments -- our co-investments in REI and share buybacks, and we'll do buybacks to balance out the other 2 when we view our share price to be attractive. What we really saw in Fourth Quarter is that we were anticipating our -- the announcement of our acquisition of J&J. That deal is delivering a return well above our cost of capital. It's more accretive than buybacks in our analysis.

And so you're seeing a weight more towards M&A. And I expect that to continue this year. We -- our M&A pipeline is building. We're seeing a greater ability to transact.

Sellers are more willing to meet our value expectations. So where we sit right now, I expect the balance to be towards M&A this year. But of course, if that changes, we'll look to repurchase shares".