 Dan Glaser |
Brunswick Group handles PR for UK's Jardine Lloyd Thompson Group, which has agreed to be acquired by Marsh & McClellan Cos. New York-based insurance broker/risk management giant, in a deal valued at $5.6B in cash considerations.
MMC is paying $25.50 per-share for JLT, an outlay that represents a 33 percent jump over the Sept. 17 closing of its stock price, as part of its strategy to "be the preeminent global firm in the areas of risk strategy and people."
Dan Glaser, MMC's CEO, called the transaction a "complementary fit between our companies that creates a platform to deliver exceptional service to clients and opportunities for our colleagues."
JLT CEO Dominic Burke will become vice chairman of MMC following the completion of the transaction, which is expected to close in the spring of 2019.
MMC, which bills itself as world’s leading professional services firm, has about 65K staffers and generates $14B in revenues.
JLT is using Brunswick Group's Tim Burns and Dania Saidam as PR advisors in the MMC transaction.
Tim Wise of Simon Robertson Assocs., is JLT's financial counselor.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
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