Marsh & McLennan Cos. Inc. said its $5.6 billion acquisition of broker Jardine Lloyd Thompson Group plc has been approved by JLT’s shareholders.

Of those shares voted, 99.9 percent voted in favor of the transaction, MMC said in a statement.

“Today’s vote is an important milestone,” said Dan Glaser, president and CEO of MMC. “The process of planning the future of Marsh & McLennan and JLT together now begins in earnest. The colleagues I’ve met at town halls are enthusiastic about bringing the best of both organizations together for the benefit of our clients.”

Following the deal announcement on Sept. 18, 2018, the U.S. Federal Trade Commission and Justice Department in October concluded their competitive review of the proposed acquisition, which permitted the transaction to proceed. The deal remains subject to additional antitrust, financial regulatory and UK High Court approvals, MMC said.

Source: Marsh & McLennan Cos.

Topics Mergers & Acquisitions