The shareholders of JLT have approved the deal for Marsh and McClennan Companies (MMC) to purchase the broker for $5.6bn (£4.3bn).

In a statement, MMC revealed that, of those who voted, 99.9 per cent of JLT shareholders were in favour of the transaction.

Commenting, MMC president and CEO Dan Glaser labelled today’s vote as “an important milestone”.

“The process of planning the future of Marsh & McLennan and JLT together now begins in earnest. The colleagues I've met at town halls are enthusiastic about bringing the best of both organisations together for the benefit of our clients,” he said.

Glaser concluded by announcing that the combined firm will have the “deepest pool of talent in the industry; the broadest industry expertise; and the greatest capability to invest in data, analytics and digital solutions”.

However, the agreement is still subject to antitrust, regulatory and UK High Court approval.

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