Marsh & McLennan Companies to Buyback $800 Million Of MMC Stock

(NAMC) -  Global professional services firm Marsh & McLennan Companies, Inc. has entered into an agreement with an yet to be named financial institution to repurchase $800 million worth of outstanding MMC common stock in an accelerated share repurchase transaction.

The President and CEO of MMC, Michael G. Cherkasky, had this to say, “This $800 million buyback continues MMC's ongoing commitment and substantive actions to return value to shareholders," he added "The successful closing of the Putnam transaction bolsters our financial flexibility and sharpens our focus on the firm’s core businesses in risk, strategy and human capital."

According to the company, MMC will conduct the transaction pursuant to the Board of Directors’ $1.5 billion share repurchase authorization announced on August 7, 2007. They will fund this transaction with proceeds from the recent sale of Putnam Investments.

NAMC Newswire Note:

NAMC Worldwide provides Investment Banking consulting services to both publicly traded and privately held companies, everything from capital raising to mergers and acquisitions. Other areas of focus are Private Equity Capital Raising and Private Commodity Transactions.

http://www.namcworldwide.com

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