DOW JONES NEWSWIRES
Marsh & McLennan Cos. (MMC) unit Mercer and Callan
Associates mutually agreed to call off the planned marriage of
their investment-consulting businesses.
The deal, announced in February and originally set to close this
quarter, would have nearly doubled benefits-consulting company
Mercer's U.S. presence and given Callan access to international
client services.
The companies didn't give a reason for ending the deal.
Though both companies have a strong focus on retirement
benefits, Mercer had said the two organizations have very little
overlap and it touted the strategic nature of the deal when it was
announced. The acquisition received antitrust approval earlier this
month.
Mercer, with 18,000 employees globally, has about 200 based in
the U.S. Callan focuses solely on the U.S. and employs more than
170 people.
-By Jay Miller, Dow Jones Newswires; 201-938-2331;
jay.miller@dowjones.com