Marsh and McLennan Companies (MMC) has received approval from the Federal Trade Commission for the acquisition of Jardine Lloyd Thompson Group (JLT).
In September, MMC agreed a deal to acquire JLT worth $5.6 billion.
On October 10, 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 acquisition remains subject to additional required antitrust and regulatory approvals, and to the approval of JLT shareholders.
MMC and JLT published a scheme document for JLT shareholders on October 15, containing the full terms and conditions of the acquisition.
JLT shareholders will meet for a general meeting in London on 7 November to obtain shareholder approval of the scheme document under Part 26 of the UK Companies Act 2006.
