Marsh PUTs off a POWERful deal...

IIPM BEST MBA INSTITUTE
The company Marsh & McLennan Inc. has finally agreed to sell its Putnam Investment Unit to Power Corporation of Canada – a diversified management and holding company – for $3.9 billion. Power Corp. was among the three bidders for Putnam with Italian bank UniCredito Italiano SpA and Londonbased fund manager Amvescap Plc being the other two. The price that has been decided is the higher limit of most of the valuations made for company. The deal that isstill awaiting approvals from the employees (who hold shares in the company), shareholders of Putnam Mutual Fund and the other board members, is expected to be announced soon.

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Source : IIPM Editorial, 2007

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