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JLT receives £4.3bn bid from Marsh & McLennan

JLT receives £4.3bn bid from Marsh & McLennan

Reinsurance, speciality and employee benefits provider Jardine Lloyd Thompson (JLT) has received an offer from US professional services group Marsh & McLennan (NYSE:MMC) valuing it at £4.3bn. This equates to 1,915p a share, a 33.7 per cent premium to the closing price the day prior to the offer being announced. Marsh has already received an irrevocable undertaking from Jardine Matheson, which owns 40 per cent of the shares, and with both boards recommending acceptance it seems likely that the deal will go through. The transaction will be effected through a UK court-sanctioned scheme of arrangement, and, subject to regulatory approval, is expected to close in the spring of 2019.

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