MARSH & MCLENNAN COMPANIES, INC. (MRSH): M&A transaction — Marsh McLennan closes $7.75B acquisition of McGriff Insurance Services

MARSH & MCLENNAN COMPANIES, INC.

MMA completed acquisition of McGriff Parent for $7.75 billion in cash; McGriff's 3,500+ colleagues join Marsh McLennan Agency.
Company assumes ~$500 million deferred tax asset in conjunction with the transaction.
Bridge term loan facility with Citigroup terminated on Nov 8, 2024; no payments required.
McGriff, founded 1886, is a leading U.S. insurance broking and risk management services provider.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

MARSH & MCLENNAN COMPANIES, INC. completed an acquisition involving TIH Blocker II, Inc. (McGriff Parent) for $7.75 billion in cash (closed 2024-11-15).

Action: acquisition
Counterparty: TIH Blocker II, Inc. (McGriff Parent)
Consideration: $7.75 billion in cash
Closing: 2024-11-15

Exact text from the filing

On November 15, 2024, Marsh & McLennan Agency LLC (“MMA”), an indirect wholly-owned subsidiary of Marsh & McLennan Companies, Inc. (the “Company”), consummated the previously announced acquisition of TIH Blocker II, Inc., a Delaware corporation (the “McGriff Parent”), pursuant to the Agreement and Plan of Merger (the “Merger Agreement”) dated as of September 29, 2024, among the Company, BD Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of MMA (“Merger Sub”) and TIH Platform Midco, L.P., a Delaware limited partnership (“Company Stockholder”) for an aggregate purchase price of $7.75 billion in cash, subject to certain customary adjustments as set forth in the Merger Agreement.

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Source: SEC EDGAR

accession 0000062709-24-000098

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