The European Commission has approved Marsh & McLennan Companies’ (MMC’s) acquisition of insurance broker Jardine Lloyd Thompson Group (JLT), conditional on the divestment of JLT’s global aerospace practice.
The companies now expect the US$6.4 billion deal to close on April 1, subject to a court’s approval. A hearing at the UK High Court has been set for March 29.
The move comes shortly after MMC agreed to sell JLT’s aerospace business to Arthur J Gallagher to address a potential overlap identified by the European Commission’s Phase 1 review of MMC’s acquisition of JLT.
The Commission was concerned that the transaction would have negatively affected competition in the insurance brokerage markets for the specialties of aircraft operators and aerospace manufacturing, and could have led to higher prices, less choice, and lower quality of services in these markets.
The deal received US approval in October of 2018.
Full Content: Intelligent Insurer
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC to Approve Exxon’s $64 Billion Deal with Pioneer Resources, Excludes
May 1, 2024 by
CPI
UK Competition Watchdog Raises Alarm Over Nvidia’s ARM Takeover
May 1, 2024 by
CPI
Sen. Klobuchar Urges Regulators to Probe Collusion in Health Care Pricing
May 1, 2024 by
CPI
Multiple States Join Tennessee’s Antitrust Lawsuit Against NCAA Over NIL Rules
May 1, 2024 by
CPI
NY AG Joins Suit Challenging NCAA’s Restrictions on Student Athlete NIL Rights
May 1, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI