Morneau Shepell to Buy Some Mercer U.S. Operations for $57 Million
06 5월 2019 - 11:55PM
Dow Jones News
By Colin Kellaher
Morneau Shepell Inc. (MSI.T) on Monday said it agreed to buy the
stand-alone U.S. large-market health and defined-benefit
administration business of Marsh & McLennan Cos.' (MMC) Mercer
unit for $57 million.
The Toronto provider of human-resources services said the
acquisition expands its presence in the U.S. and boosts its
position in the large-market sector.
Morneau Shepell said it will fund the acquisition, which it
expects to complete in the third quarter, through its revolving
credit facility.
Mercer said the business it is selling has 73 clients and more
than 1.9 million participants, adding that its employees who serve
those clients will join Morneau Shepell.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 06, 2019 10:40 ET (14:40 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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