Marsh to create new speciality unit
MMC buys up JLT
Marsh & McLennan Companies (MMC) has announced that the shareholders of Jardine Lloyd Thompson Group (JLT) have overwhelmingly approved Marsh & McLennan’s agreement to acquire JLT. Of those shares voted, 99.9 percent voted in favour of the transaction.
“Today’s vote is an important milestone,” said Dan Glaser, president and CEO of MMC. “The process of planning the future of Marsh & McLennan and JLT together now begins in earnest. The colleagues I’ve met at town halls are enthusiastic about bringing the best of both organisations together for the benefit of our clients.
“Upon closing, the combined firm will have the deepest pool of talent in the industry; the broadest industry expertise; and the greatest capability to invest in data, analytics and digital solutions. We will meet our clients’ greatest challenges with innovation and thought leadership,” concluded Mr. Glaser.
The transaction was announced on September 18, 2018. On October 10, Marsh & McLennan received notice from the US Federal Trade Commission that it had granted early termination of the applicable waiting period under the Hart-Scott-Rodino Act, concluding the competition review of both the FTC and Department of Justice. The transaction remains subject to additional antitrust, financial regulatory and UK High Court approvals. Both companies have offices and subsidiaries on Bermuda.
MMC, Marsh, JLT, M&A, acquisition, shareholders, vote, approval