Remember when it was revealed earlier this month that the global aerospace operations of Jardine Lloyd Thompson Group Plc (JLT) will be sold to Arthur J. Gallagher & Co. (AJG)? The deal came to life to address competition concerns raised by the European Commission, which has now approved Marsh & McLennan Companies’ (MMC) swoop for JLT under the EU Merger Regulation.
UK-based JLT had to offload its global aerospace practice after the European Commission found that merging with US enterprise MMC “would result in a significantly concentrated market, reducing the number of main competitors from three to two at EEA (European Economic Area) level and from four to three at global level.”
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