Marsh McLennan closes $7.75bn McGriff acquisition deal [Yahoo! Finance]
Marsh & McLennan Companies, Inc. (MMC)
Last marsh & mclennan companies, inc. earnings: 4/30 07:00 am
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Source: Yahoo! Finance
The deal, valued at $7.75bn, was announced in September this year. McGriff Insurance Services was acquired with a combination of cash on hand and debt funding. With this deal, MMA, a subsidiary of Marsh, is set to enhance its capabilities in commercial property and casualty, employee benefits, management liability and personal lines. With the closure of the transaction, more than 3,500 McGriff employees will become part of MMA. This integration is expected to strengthen the company's position in the market by leveraging the expertise and customer base of McGriff. Marsh McLennan will also benefit from a deferred tax asset estimated to be worth $500m. Following the completion of the deal, Marsh McLennan CEO and president John Doyle said: “We are thrilled to welcome the McGriff team to Marsh McLennan. Their deep specialty and industry capabilities will strengthen Marsh McLennan Agency's value proposition and expand our reach in the growing middle market. Together, McGriff an
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MMC
News
- Marsh & McLennan Companies, Inc. (NYSE: MMC) had its price target raised by analysts at Barclays PLC from $236.00 to $246.00. They now have an "equal weight" rating on the stock.MarketBeat
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MMC
Earnings
- 10/17/24 - Beat
MMC
Sec Filings
- 11/19/24 - Form 4
- 11/19/24 - Form 4
- 11/19/24 - Form 4
- MMC's page on the SEC website