The European Commission clears the acquisition of Jardine Lloyd Thompson Group (JLT) by Marsh & McLennan Companies’ (MMC) after Arthur J. Gallagher’s recent purchase of JLT’s global aerospace operations.
The companies both expect the deal to close on 1 April 2019 at $6.4bn subject to courts approval at the UK High Court hearing set for 29 March.
The commission was concerned about the proposed deal, due to the effect on competition in the insurance brokerage markets where the two companies’ activities overlap. This included the speciality sectors such as energy, aircraft operators, aerospace manufacturers and space which could have led to higher prices, less choice and lower quality of services in these markets.
Following the agreement of Arthur J. Gallagher’s acquisition of JLT's aerospace business it has been concluded that all regulatory and competition authority approvals required would no longer raise concerns in the European Economic Area.