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Article: Benfield denies talk of takeover.(Benfield Group PLC)(Brief Article)(Statistical Data Included)
- Article from:
- Business Insurance
- Article date:
- August 19, 2002
- Author:
CopyrightCOPYRIGHT 2002 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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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 ...