Jardine Matheson commits further to JLT with 10% stake offer
Jardine Lloyd Thompson (JLT)'s independent directors have recommended that shareholders accept a £166mn cash offer from leading shareholder Jardine Matheson to purchase a further 10 percent stake in the broker.
International conglomerate Jardine Matheson, which helped found predecessor company Jardine Insurance Brokers in the early 1970s, currently holds 30.35 percent of JLT's issued ordinary share capital.
The offer of 765p per share represents a 23.6 percent premium to the closing price on 14 September.
JLT's share price responded immediately in...
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