Marsh & McLennan will buy Sedgwick
Article Abstract:
Insurance broker Marsh and McLennan Companies (NY) will buy Britain's Sedgwick Group for approximately $2 billion dollars. By acquiring the third-largest broker, Marsh will strengthen its dominance of the industry, raising its U.S. market share to 16%. Sedgwick had been the last available takeover target of size, a fact reflected in its high selling price of $3.67 per share. Marsh chairman A.J.C. Smith expects the consolidation of the two firms' facilities to yield savings of $150 million annually.
Comment:
To acquire Sedgwick Group PLC for about $2 billion, UK
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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TRW to buy Lucas Varity for $7 billion
Article Abstract:
British auto-parts maker Lucas-Varity PLC has agreed to be acquired by TRW Inc. for $7 billion. The two expect to save $200 million to $300 million annually after three years by closing unprofitable facilities and other economies of scale.
Comment:
Will acquire Lucas-Varity PLC for $7 billion
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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