Marsh & McLennan Agrees GBP4.3 Billion Takeover of U.K.'s Jardine Lloyd Thompson

By Adam Clark

Marsh & McLennan Cos. (MMC) said Tuesday that it has agreed a 4.3 billion-pound ($5.66 billion) deal to buy U.K. insurance brokerage Jardine Lloyd Thompson Group PLC (JLT.LN).

The deal values Jardine Lloyd Thompson at 1,915 pence a share, a 34% premium to its closing price on Monday.

New York-listed Marsh & McLennan said the deal will strengthen its specialty risk broking operations and expand its global reinsurance network, enhancing its position in Asia and Latin America.

Marsh & McLennan said its revenue is expected to increase to around $17 billion following the deal.

Jardine Lloyd Thompson's independent directors have recommended the deal to the company's shareholders.

Marsh & McLennan has received a commitment to support the bid from Jardine Matheson Holdings Ltd. (JAR.LN), which has a 40% stake in Jardine Lloyd Thompson.

The deal is expected to close in spring 2019, subject to shareholder and regulatory approval.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

September 18, 2018 03:04 ET (07:04 GMT)

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