Following a Phase I investigation, the European Commission (“EC”) cleared the acquisition by Marsh & McLennan Companies (“MMC”), one of the leading global insurance and reinsurance brokers, of Jardine Lloyd Thomson (“JLT”) conditional on the divestment of JLT’s global Aerospace practice. The transaction was valued at £4.3billion (approximately US$5.6billion).
Compass Lexecon’s experts advised MMC during the EC merger control process. They analyzed dozens of overlap markets in insurance broking and reinsurance broking, which helped narrow the concern to insurance broking in Aircraft Operators and Aerospace Manufacturing. Compass Lexecon also assisted with economic analysis of the design of the proposed divestment remedy, which fully addressed the EC’s concerns.
The Compass Lexecon team was led by Neil Dryden, who was assisted by Thomas Bowman, Verdi Choo, Alyssa Lam, and Ferenc Pető. Compass Lexecon worked alongside partners John Boyce, Bertrand Louveaux, Lisa Wright, and associates Alexander Chadd, Jantira Raftery, Poppy Smith and Rebecca West of Slaughter and May (advising MMC); partner Greg Olsen, and associates Cintia Aguilar Flores, Chandralekha Ghosh and Sabra Ferhat of Clifford Chance (advising JLT); and Peter Beshar, Mikhail Vanyo, Katherine Brennan and Connor Kuratek of MMC’s in-house counsel team.