Publication Date: September 20, 2018
Marsh & McLennan, the US insurance broker, announced a recommended offer for UK-listed insurance broker Jardine, Lloyd and Thompson at 1,915p cash per share, to be implemented via a Scheme of Arrangement. Limited regulatory clearances have been disclosed (US, EU and FSMA) and the parties forecast closing in spring 2019, with a long stop date of 31-Dec-19.
1. Regulatory Risks Hidden but Manageable; the FCA Investigation 2. Deal Structured to Get Swift Shareholder Approval; the JLT Vote 3. Risk Arbitrage Trading Thoughts Appendix A. Deal Structure
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