Marsh & McLennan purchase of JLT approved by EU regulatorPosted On: Mar. 22, 2019 12:35 PM CST
The European Commission has approved Marsh & McLennan Cos. Inc.’s acquisition of Jardine Lloyd Thompson Group PLC.
All regulatory and competition authority approvals required to close the transaction have now been satisfied, according to a Marsh & McLennan statement issued on Friday.
A hearing at the U.K. High Court to sanction the arrangement has been set for March 29, according to statements by the companies. Subject to the court’s approval, the transaction is expected to close on April 1 following delivery of the court order to the Registrar of Companies.
The last day for dealings and transfers of JLT shares is expected to be March 29. The listing of JLT shares on the official list of the U.K. Listing Authority and the trading of JLT shares on the main market for listed securities of the London Stock Exchange are each expected to be suspended with effect from 7:30 a.m. local time in London on April 1, according to JLT’s statement on Friday.
It is expected that the listing of JLT shares on the official list will be canceled and that JLT shares will cease to be admitted to trading on the main market for listed securities of the London Stock Exchange effective 8:00 a.m. in London on April 2, according to JLT.