Summary
Marsh & McLennan Companies, Inc. (MRSH) has officially completed its acquisition of Jardine Lloyd Thompson Group plc (JLT) on April 1, 2019. This significant transaction, valued at approximately £4.3 billion (or $5.6 billion), was executed through a scheme of arrangement under UK law, with JLT shareholders receiving £19.15 in cash per share. The completion of this acquisition is the primary focus of this 8-K filing, marking a major strategic move for Marsh & McLennan. Concurrent with the acquisition's closing, Marsh & McLennan also terminated its Bridge Loan Agreement from September 18, 2018. Importantly, no funds were borrowed under this agreement, and no prepayment penalties were incurred upon its termination. Investors should note that detailed financial statements and pro forma information related to the acquisition will be filed in a subsequent amendment to this report, within 71 days.
Key Highlights
- 1Completion of the acquisition of Jardine Lloyd Thompson Group plc (JLT) on April 1, 2019.
- 2Total consideration for the acquisition is approximately £4.3 billion (or $5.6 billion) in cash.
- 3JLT shareholders are receiving £19.15 in cash for each ordinary share held.
- 4JLT shares are expected to be delisted from the London Stock Exchange on April 2, 2019.
- 5Termination of the previously established Bridge Loan Agreement dated September 18, 2018.
- 6No amounts were borrowed under the terminated Bridge Loan Facility, and no prepayment premium was incurred.
- 7Financial statements and pro forma information for the acquired business will be filed via amendment within 71 days.