Marsh & McLennan Clears Final Regulatory Hurdle to Close on Buying JLT on April 1

March 25, 2019

Marsh & McLennan Cos. (MMC) announced on Friday, March 22 that the European Commission has approved its $5.6 billion acquisition of Jardine Lloyd Thompson Group plc.

All regulatory and competition authority approvals required to close the transaction have now been satisfied, said MMC.

The deal was first announced in September 2018.

JLT shareholders approved the deal last November. The U.S. Federal Trade Commission and Justice Department cleared the deal of anti-trust concerns in October.

A hearing at the UK High Court has been set for March 29, 2019. Subject to the court’s approval, the transaction is expected to close on April 1, MMC affirmed.

The deal, which was hammered out in about 11 days between MMC CEO Dan Glaser and JLT Group CEO Dominic Burke, looks to b one of the largest ever involving insurance brokers. Last year, KKR & Co. and Canada’s Caisse de Depot et Placement du Quebec acquired USI Insurance Services for $4.3 billion.

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