Jardine Lloyd Thompson Group (JLT) shareholders have overwhelmingly approved Marsh and McLennan’s (MMC) agreement to acquire JLT.
Of the shareholders who voted, 99.9 percent voted in favour of the transaction.
On 18 September, MMC agreed to acquire JLT in a deal worth $5.6 billion.
The acquisition received approval from the Federal Trade Commission (FTC) on 18 October.
The FTC granted an early termination of the waiting period under the Hart-Scott-Rodino Act, effectively concluding the competition review of both the FTC and Department of Justice, and satisfying a vital condition on the closing of the acquisition.
The transaction remains subject to additional antitrust, financial regulatory and UK High Court approvals.
Dan Glaser, president and CEO of MMC, said the shareholders’ vote was an “important milestone”.
He continued: “The process of planning the future of MMC and JLT together now begins in earnest.”
“The colleagues I’ve met at town halls are enthusiastic about bringing the best of both organisations together for the benefit of our clients.”
According to Glaser, once the deal is closed the combined firm will have “the deepest pool of talent in the industry; the broadest industry expertise; and the greatest capability to invest in data, analytics and digital solutions”.
He concluded: “We will meet our clients’ greatest challenges with innovation and thought leadership.”
