Law firm Eversheds is advising Jardine Lloyd Thompson Group on the partial offer by its largest shareholder, Jardine Matheson, to acquire a further 10% of its shares for £166m, which would take Jardine Matheson’s holding in JLT to approximately 40%.
"Jardine Matheson has been a supportive investor in JLT for many years. We believe that the Partial Offer reinforces Jardine Matheson's long term commitment whilst preserving JLT's independence and presenting shareholders with an opportunity to realise part of their investment at an attractive premium and to retain a substantial ongoing interest in the future of JLT," comments Geoffrey Howe, chairman of JLT.
Vyvienne Wade, group legal director of JLT, adds: "We expect Jardine Matheson's investment and commitment to its shareholding to reinforce JLT's independence and ownership stability, which is important to staff recruitment and retention, as well as client and insurer relationships, and consequently support its growth prospects."
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