Jelf confirms takeover talks with Marsh

Independent insurance broker Jelf has confirmed it is in talks with UK firm Marsh about a possible takeover.

Jelf said in a statement: “The Board of Jelf notes the recent press speculation and confirms that it is in discussions with Marsh in relation to a possible cash offer by Marsh for the entire issued and to be issued ordinary share capital of Jelf.

“Discussions, which are ongoing, are at an early stage and there can be no certainty that any offer will ultimately be made for Jelf or as to the terms of any such offer.”

Fenchchurch Advisory Partners LLP is advising the Board of Jelf.

Marsh has until 5.00 p.m. on 16 September 2015, to announce either a firm intention or no intention to make an offer  for Jelf in accordance with Rule 2.7 of the Code. This deadline can be extended with the consent of Jelf and the Takeover Panel in accordance with Rule 2.6.

The Board of Jelf said it will make a further statement on the bid “when appropriate”.