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Heath Lambert and Marsh abandon merger talks.
(From Insurance Day)
Byline: Jon Guy
THE roller-coaster ride over the future of broker Heath Lambert Fenchurch (HLF) took another, potentially decisive, twist as talks between broker Heath Lambert and Marsh ended by mutual consent with the UK broker now looking at other options to move the business forward.
The decision to terminate the takeover negotiations ends months of speculation about a possible acquisition of HLF by Marsh.
Despite the proposals moving to the point where an exclusivity deal had been signed between the two, the decision was taken this week not to proceed with further discussions.
Market sources said that if anything it was HLF that instigated the end of the process but both had agreed a mutual termination.
The events of the past week renew questions over the future of HLF and whether it will attempt to revive its initial public offering (IPO) plans that were shelved last year.
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