Major events in Marsh & McLennan Cos. Inc.'s ownership of risk management and technology consultant Kroll Inc.

JULY 2004: MMC pays roughly $1.9 billion to acquire Kroll.

OCTOBER 2004: Kroll CEO Michael G. Cherkasky replaces Jeffrey W. Greenberg as MMC CEO, shortly after former New York Attorney General Eliot Spitzer filed fraud and bid-rigging charges against MMC.

OCTOBER 2004-DECEMBER 2007: Embroiled in the fraud and bid-rigging lawsuit and subsequent recovery efforts, MMC never fully integrates Kroll and certain Kroll units begin to underperform.

JANUARY 2008: Brian Duperreault becomes president and CEO of MMC, replacing Mr. Cherkasky, and says one of his goals is to fix underperforming operations, including Kroll.

MAY 2008: MMC rebuffs an inquiry from London-based buyout firm B.C. Partners Ltd. to begin negotiations for the buyout of Kroll. Subsequently, Mr. Duperreault says MMC will divest Kroll Government Services Inc., which provides U.S. government security clearance screening services, and Kroll Factual Data Corp., which provides mortgage lender services. He also moves Kroll's corporate advisory and restructuring business into a separate unit. That realignment results in $540 million in impairment charges in 2008.

JUNE 2008: Ben Allen is named president and CEO of Kroll, succeeding Simon V. Freakley, who becomes CEO of the corporate advisory and restructuring unit.

JULY 2008: Jules B. Kroll, the founder of Kroll Inc., retires from MMC.

NOVEMBER 2008: Mr. Freakley leads the management buyout of Kroll's corporate advisory and restructuring unit's European business in conjunction with the management buyout of the U.S. side of the unit known as Kroll Zolfo Cooper. Both companies begin operating as separate partnerships under the name Zolfo Cooper.

NOVEMBER 2008: MMC sells U.K.-based restructuring unit Kroll Talbot Hughes to management. The unit is renamed Talbot Hughes McKillop L.L.P.

JUNE 2009: MMC sells Kroll Government Services to New York-based private equity firm Veritas Capital for an undisclosed sum. The unit is renamed KeyPoint Government Solutions Inc. MMC takes a $315 million impairment charge in connection with the sale.

FEBRUARY 2010: MMC agrees to sell Kroll Laboratory Specialists, Kroll's substance abuse testing business, to Inverness Medical Innovations Inc. for $110 million in cash. The deal is expected to close in the first quarter.

MARCH 2010: Reports say MMC is accepting bids and seeking about $1.3 billion the rest of Kroll's operations.