Tags: MARSCH AND MCLENNAN | KROLL | M&A | INSURANCE | FINANCIAL SERVICES | PRIVATE EQUITY | STOCK MARKET

Report: Marsh & McLennan May Sell Kroll for $1.3 Billion

Tuesday, 09 Mar 2010 03:08 PM


Marsh & McLennan, the No 2. global insurance broker, has put up its security consulting business Kroll up for sale for $1.3 billion and received offers from several major private equity firms in the first round of bidding, the Financial Times reported.

Three firms, The Carlyle Group, Apax Partners and General Atlantic, submitted bids in late February by the deadline for first expressions of interest, the Financial Times reported, citing people familiar with the situation.

Those people also said BC Partners may also want to make an offer along with one or two trade bidders, according to the Financial Times.

Marsh's Chief Executive Brian Duperreault has cut thousands of jobs and sold off unwanted units of Kroll since joining the company in 2008.

Marsh, Carlyle, Apax, General Atlantic and BC Partners did not immediately return calls seeking comment on the report.

Marsh bought Kroll from its founder Jules Kroll for $1.9 billion in cash in 2004.

© 2015 Thomson/Reuters. All rights reserved.

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