US broker Arthur J Gallagher will sell the aerospace insurance business of Jardine Lloyd Thompson (JLT), as part of its acquisition of the UK firm, in a merger deal worth £4.3bn ($5.7bn). The aerospace division will be sold to US rival Marsh & McLennan for £190m, in a bid to address regulatory concerns. The planned takeover is under review by the European Commission.
US broker Marsh & McLennan will sell the aerospace insurance business of Jardine Lloyd Thompson (JLT), as part of its acquisition of the UK firm, in a merger deal worth £4.3bn ($5.7bn). The aerospace division will be sold to US rival Arthur J Gallagher for £190m, in a bid to address regulatory concerns. The planned takeover is under review by the European Commission.