Marsh McLennan's Mercer To Acquire Cardano, A Long-Term Savings Specialist In The UK And The Netherlands; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Mercer, a business of Marsh McLennan (NYSE:MMC), announced an agreement to acquire Cardano, a long-term savings specialist in the UK and the Netherlands with $66 billion in assets under management. The transaction is expected to close near the end of 2024, subject to regulatory approvals. Financial terms were not disclosed.
June 11, 2024 | 12:03 pm
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Mercer, a business of Marsh McLennan, is set to acquire Cardano, a long-term savings specialist with $66 billion in assets under management. The deal is expected to close by the end of 2024, pending regulatory approvals.
The acquisition of Cardano by Mercer, a business of Marsh McLennan, is likely to positively impact MMC's stock price in the short term. The addition of $66 billion in assets under management enhances Mercer's portfolio and market position. The deal's completion is subject to regulatory approvals, which adds some uncertainty, but the overall strategic benefit is significant.
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