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Stock impact report

UPDATE 3-Marsh & McLennan stumps up $5.7 bln for British insurance broker JLT [Reuters]

Marsh & McLennan Companies, Inc. (MMC) 
Last marsh & mclennan companies, inc. earnings: 4/30 07:00 am Check Earnings Report
US:NYSE Investor Relations: marsh.com
Company Research Source: Reuters
Marsh & McLennan to buy UK broker JLT for $5.7 billion | Reuters 3 Min Read (Reuters) - Marsh & McLennan Companies Inc ( MMC.N ) has agreed to buy Jardine Lloyd Thompson ( JLT.L ) for about 4.3 billion pounds ($5.7 billion) as the U.S. financial services group looks to boost its speciality risk broking and global reinsurance business. Shares of the UK insurance and reinsurance broker rose 32.3 percent to 1,894 pence, just below MMC’s all-cash offer of 1,915 pence, which was set at a premium of about 33.7 percent to JLT stock’s closing price on Monday. The deal consideration implies an enterprise value of about 4.9 billion pounds for JLT. The deal comes as insurers have been looking to consolidate in a competitive market that has seen tougher regulations and softer pricing. France’s AXA ( AXAF.PA ) moved to buy Bermuda-based XL Group for $15.3 billion in March, just over a month after American International Group ( AIG.N ) said it would buy reinsurer Validus for around $5.6 bil Show less Read more
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