London-based Jardine Lloyd Thompson Group, plc said the insurance brokerage is in talks to acquire Heath Lambert Group, also located in London.
In a statement last week, JLT said it was confirming speculation and that talks are in the early stages. The broker said the talks may or may not lead to an acquisition. The transaction would not lead to the raising of additional equity capital, JLT added.
For 2005, Heath Lambert said it had a profit of ?1.1 million (U.S $2.03 million at current valuation) on revenues of ?110.5 million ($203.5 million).
JLT reported net income for 2005 of ?51.2 million ($94.3 million) on revenues of ?500 million ($920.6 million).
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