Financial Services Industry
Industry: Email Alert RSS FeedBenfield Group quashes rumors about takeover by Marsh & McLennan.(Brief Article)
National Underwriter Property & Casualty-Risk & Benefits Management, August, 2002 by Howard, Lisa S.
Responding to recent press speculation that Marsh & McLennan Companies was considering a bid for Benfield Group plc, Benfield announced last week that it is not in discussions with "any third party at the current time in relation to a possible offer for the company. Benfield, a London-based reinsurance broker, said it also "wishes to confirm that no third party has undertaken due diligence on the company in relation to a possible offer." "With the company's share capital being controlled by its management and employees, the future ownership of the company is, inevitably, often the subject of market rumor and speculation," the statement said.
Although the company does not normally comment on press speculation, the board decided to clarify the current...
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