Marsh & McLennan to Acquire Jelf Group for GBP258 Million
September 10 2015 - 02:22PM
Dow Jones News
LONDON--U.S. business consultancy Marsh & McLennan Companies
Inc. (MMC) said Thursday that it has reached an agreement to
acquire U.K. listed insurance broker Jelf Group PLC (JLF.LN) for
around 258 million pounds ($396.73 million) in cash.
The company said unit Marsh & McLennan Companies Acquistions
Ltd. will pay 215 pence in cash for each Jelf share. The
acquisition values Jelf's existing issued and to be issued ordinary
share capital at GBP204 million and the existing issued Jelf non
voting shares at GBP54 million.
Marsh has received irrevocable undertakings to vote in favor of
the acquisition in respect of 60.6% of the existing issued ordinary
share capital of Jelf and all of the Jelf non voting shares.
Write to Tapan Panchal at tapan.panchal@wsj.com
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(END) Dow Jones Newswires
September 10, 2015 14:07 ET (18:07 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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