Business Services Industry
Benfield denies talk of takeover.(Benfield Group PLC)(Brief Article)(Statistical Data Included)
Business Insurance, August, 2002 by Veysey, Sarah
LONDON-Reinsurance brokerage Benfield Group P.L.C. last week put to rest rumors that it would be taken over by Marsh & McLennan Cos. Inc., denying that any acquisition talks were taking place. Last Monday, reports and market sources said that Marsh was negotiating a $1 billion takeover of the London-based brokerage.
But Benfield responded swiftly with a statement, saying that ``the board of Benfield Group wishes to confirm that it is not in discussions with any third party at the current time in relation to a possible offer for the company.'' ``Furthermore, the board also wishes to confirm that no third party has undertaken due diligence on the company in relation to a possible offer,'' Benfield's statement continues. In 2001, Benfield ranked as the...
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