-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DVD7weRth2vz26DBl4IBvFJQ9urhwqCU/ijCQ3h0Wg37gmVyFSoJ6kFBOM0lhfjt PMyBiRHbgOwTt+jcVTM5Ag== 0000950172-98-001111.txt : 19981027 0000950172-98-001111.hdr.sgml : 19981027 ACCESSION NUMBER: 0000950172-98-001111 CONFORMED SUBMISSION TYPE: SC 14D1/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 19981026 SROS: NYSE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SEDGWICK GROUP PLC CENTRAL INDEX KEY: 0001040015 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-54555 FILM NUMBER: 98730780 BUSINESS ADDRESS: STREET 1: SACKVILLE HOUSE STREET 2: 143-149 FENCHURCH ST CITY: LONDON STATE: X0 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SEDGWICK GROUP PLC CENTRAL INDEX KEY: 0001040015 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 14D1/A SEC ACT: SEC FILE NUMBER: 005-54555 FILM NUMBER: 98730781 BUSINESS ADDRESS: STREET 1: SACKVILLE HOUSE STREET 2: 143-149 FENCHURCH ST CITY: LONDON STATE: X0 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MARSH & MCLENNAN COMPANIES INC CENTRAL INDEX KEY: 0000062709 STANDARD INDUSTRIAL CLASSIFICATION: INSURANCE AGENTS BROKERS & SERVICES [6411] IRS NUMBER: 362668272 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 14D1/A BUSINESS ADDRESS: STREET 1: 1166 AVE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 2123455000 MAIL ADDRESS: STREET 1: 1166 AVE OF THE AMERICAS STREET 2: 27TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: MARLENNAN CORP DATE OF NAME CHANGE: 19760505 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MARSH & MCLENNAN COMPANIES INC CENTRAL INDEX KEY: 0000062709 STANDARD INDUSTRIAL CLASSIFICATION: INSURANCE AGENTS BROKERS & SERVICES [6411] IRS NUMBER: 362668272 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 14D1/A BUSINESS ADDRESS: STREET 1: 1166 AVE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 2123455000 MAIL ADDRESS: STREET 1: 1166 AVE OF THE AMERICAS STREET 2: 27TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: MARLENNAN CORP DATE OF NAME CHANGE: 19760505 SC 14D1/A 1 SCHEDULE 14D1 AMENDMENT NO. 6 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 14D-1 AMENDMENT NO. 6 TENDER OFFER STATEMENT PURSUANT TO SECTION 14(d)(1) OF THE SECURITIES EXCHANGE ACT OF 1934 AND STATEMENT ON SCHEDULE 13D AMENDMENT NO. 7 UNDER THE SECURITIES EXCHANGE ACT OF 1934 SEDGWICK GROUP PLC (NAME OF SUBJECT COMPANY) MARSH & MCLENNAN COMPANIES, INC. (BIDDER) ORDINARY SHARES OF 10 PENCE EACH AND AMERICAN DEPOSITARY SHARES, EACH REPRESENTING FIVE ORDINARY SHARES AND EVIDENCED BY AMERICAN DEPOSITARY RECEIPTS (TITLE OF CLASS OF SECURITIES) 815673108 (ORDINARY SHARES) 315673207 (AMERICAN DEPOSITARY SHARES) (CUSIP NUMBER OF CLASS OF SECURITIES) GREGORY F. VAN GUNDY GENERAL COUNSEL AND SECRETARY 1166 AVENUE OF THE AMERICAS NEW YORK, NEW YORK 10036-2774 (212) 345-5000 (NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS ON BEHALF OF BIDDER) COPIES TO: DAVID J. FRIEDMAN MARK RAWLINSON MICHAEL E. HATCHARD FRESHFIELDS SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP 65 FLEET STREET 919 THIRD AVENUE LONDON EUY 1HS, ENGLAND NEW YORK, NEW YORK 10022 (011) 44-171-936-4000 (212) 735-3000 Marsh & McLennan Companies, Inc., a Delaware corporation ("Marsh & McLennan"), hereby amends and supplements its Tender Offer Statement on Schedule 14D-1 ("Schedule 14D-1") filed with the Securities and Exchange Commission (the "Commission") on September 4, 1998 relating to the offer to purchase all of the outstanding (a) ordinary shares of 10 pence each ("Sedgwick Shares") of Sedgwick Group plc ("Sedgwick") at a price of 225 pence in cash per Sedgwick Share and (b) American Depositary Shares of Sedgwick ("Sedgwick ADSs"), each representing five Sedgwick Shares and evidenced by American Depositary Receipts, at a price of pound sterling11.25 in cash per Sedgwick ADS. This Amendment No. 6 to the Schedule 14D-1 also constitutes Amendment No. 7 to the Schedule 13D of Marsh & McLennan with respect to Sedgwick Shares and Sedgwick ADSs filed with the Commission on September 3, 1998. Item 10. Additional Information. Items 10(b), (c) and (e) are hereby amended and supplemented by incorporation by reference therein of the press release issued by Marsh & McLennan and Sedgwick on October 26, 1998, a copy of which is filed as Exhibit (a)(18) hereto. Item 10(f) is hereby amended and supplemented by incorporation by reference therein of the notice published in the Wall Street Journal on October 26, 1998, a copy of which is filed as Exhibit (a)(19) hereto. Item 11 Material to be Filed as Exhibits. Item 11 is hereby amended and supplemented by the addition of the following exhibits thereto: (a)(18) Text of press release of Marsh & McLennan and Sedgwick, dated October 26, 1998. (a)(19) Notice published in the Wall Street Journal on October 26, 1998. SIGNATURES After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. MARSH & McLENNAN COMPANIES, INC. By: /s/ Gregory F. Van Gundy _____________________________ Name: Gregory F. Van Gundy Title: General Counsel and Secretary Dated: October 26, 1998 EXHIBIT INDEX (a)(18) Text of press release of Marsh & McLennan and Sedgwick, dated October 26, 1998. (a)(19) Notice published in the Wall Street Journal on October 26, 1998. EX-99 2 EXHIBIT (A)(18) - PRESS RELEASE EXHIBIT (A)(18) October 26, 1998 Not for release, publication or distribution in or into Canada, Australia or Japan. MARSH & MCLENNAN COMPANIES, INC. RECOMMENDED CASH OFFERS FOR SEDGWICK GROUP PLC CLEARANCE RECEIVED FROM EUROPEAN COMMISSION AND RESERVATION OF THE RIGHT TO REDUCE THE ACCEPTANCE CONDITION Marsh & McLennan Companies, Inc. and Sedgwick Group plc announced on 23 October, 1998 that the European Commission has approved their proposed merger. The consummation of the Offers remains subject to the satisfaction of certain other conditions, including obtaining certain outstanding regulatory consents, which Marsh & McLennan and Sedgwick believe will be satisfied within the existing bid timetable. As previously announced, the acceptance period has been extended to 1.00 p.m. (London time), 8.00 a.m. (New York City time) on November 3, 1998. The European Commission's approval follows clearance for the merger from the United States Federal Trade Commission, announced on October 16, 1998. These regulatory approvals were welcomed by A.J.C. Smith, chairman and chief executive officer of Marsh & McLennan Companies. "We believe that the merger with Sedgwick offers substantial benefits for our clients, our shareholders and our employees", he said. "We are looking forward to realising these benefits." In addition, Marsh & McLennan hereby gives notice that it reserves the right to reduce the percentage of Sedgwick Securities required to satisfy the Acceptance Condition to not less than 50.1 per cent. in nominal value of Sedgwick Securities to which the Ordinary Offer relates. Any such reduction of the percentage of Sedgwick Securities required to satisfy the Acceptance Condition would not be effected before November 2, 1998. Although such reduction in the percentage of Sedgwick Securities required to satisfy the Acceptance Condition is possible on or after such date, Marsh & McLennan need not declare its actual intentions until it is required to do so under The City Code on Takeovers and Mergers. There may be no further announcement concerning Marsh & McLennan's right to reduce the percentage of Sedgwick Securities required to satisfy the Acceptance Condition. Any such reduction in the percentage of Sedgwick Securities required to satisfy the Acceptance Condition, once all other conditions to the Ordinary Offer have been fulfilled, satisfied or, where permitted, waived, could result in the Ordinary Offer being declared wholly unconditional and the consequent termination of withdrawal rights. Accordingly, holders of Sedgwick Securities who have already accepted the Ordinary Offer but whose willingness to accept would be affected if the percentage of Sedgwick Securities required to satisfy the Acceptance Condition were reduced to a level lower than 90 per cent. may wish to consider withdrawing their acceptances now. Sedgwick Group plc is the London-based holding company of one of the world's leading insurance, reinsurance and consulting groups. This group provides insurance and reinsurance broking services, risk consulting, employee benefits consulting and related financial services from more than 290 offices in 70 countries. Marsh & McLennan Companies is a professional services firm providing risk and insurance services, investment management and consulting. More than 36,000 employees worldwide provide analysis, advice and transactional capabilities to clients in over 100 countries. Marsh & McLennan Companies' stock (ticker symbol: MMC) is listed on the New York, Chicago, Pacific and London stock exchanges. Its Web site address is www.marshmac.com. Contact: Marsh & McLennan Barbara Perlmutter +1 212 345 5585 Kekst & Company +1 212 521 4800 Jim Fingeroth Michael Freitag Brunswick +44 171 404 5959 Alison Hogan Sedgwick +44 171 377 3456 Julia Fish J.P. Morgan, Donaldson, Lufkin & Jenrette and Cazenove, which are regulated in the United Kingdom by The Securities and Futures Authority Limited, are acting for Marsh & McLennan and for no one else in connection with the Offers and will not be responsible to anyone other than Marsh & McLennan for providing the protections afforded to their respective customers nor for giving advice in relation to the Offers. The Offers are not being made, directly or indirectly, in or into, Canada, Australia or Japan. Accordingly, neither copies of this announcement nor any related offering documents are to be mailed or otherwise distributed or sent in or into Canada, Australia or Japan. Terms defined in the offer document dated September 4, 1998 have the same meaning in this announcement unless the context requires otherwise. EX-99 3 EXHIBIT (A)(19) - NOTICE Exhibit (a)(19) This announcement is neither an offer to purchase nor a solicitation of an offer to sell securities. The Offers (as defined below) are made in the United States solely by the Offer to Purchase dated September 4, 1998 and the related Letter of Transmittal and Forms of Acceptance and are not being made to, nor will acceptances be accepted from or on behalf of, holders of Sedgwick Shares (as defined below), Sedgwick ADSs (as defined below) evidenced by Sedgwick ADRs (as defined below) or Sedgwick Convertible Bonds (as defined below) in any jurisdiction in which the making of the Offers or acceptance thereof would not be in compliance with the laws of such jurisdiction. The Offer to Purchase, the Letter of Transmittal, the Forms of Acceptance and related materials should not be forwarded or transmitted in or into Canada, Australia or Japan. Notice in connection with Recommended Cash Offers by Morgan Guaranty Trust Company of New York, London Branch and Donaldson, Lufkin & Jenrette International on behalf of Marsh & McLennan Companies, Inc. to acquire all outstanding Ordinary Shares, American Depositary Shares evidenced by American Depositary Receipts and 7.25% Convertible Bonds 2008 of Sedgwick Group plc Morgan Guaranty Trust Company of New York, London Branch and Donaldson, Lufkin & Jenrette International, acting in the United States through J.P. Morgan Securities Inc. and Donaldson, Lufkin & Jenrette Securities Corporation, on behalf of Marsh & McLennan Companies, Inc. (Marsh & McLennan), are offering to purchase, upon the terms and subject to the conditions set forth in the Offer to Purchase dated September 4, 1998 (the Offer to Purchase), the related Letter of Transmittal and the related Form of Acceptance (collectively, the Ordinary Offer), (i) all outstanding ordinary shares of 10 pence each (Sedgwick Shares) of Sedgwick Group plc (Sedgwick) for 225 pence per Sedgwick Share in cash and (ii) all outstanding American Depositary Shares of Sedgwick, each representing five Sedgwick Shares (Sedgwick ADSs) and evidenced by American Depositary Receipts (Sedgwick ADRs), for 11.25 per Sedgwick ADS in cash. Sedgwick Shares and Sedgwick ADSs evidenced by Sedgwick ADRs are referred to collectively as Sedgwick Securities. Morgan Guaranty Trust Company of New York, London Branch and Donaldson, Lufkin & Jenrette International, acting in the United States through J.P. Morgan Securities Inc. and Donaldson, Lufkin & Jenrette Securities Corporation, on behalf of Marsh & McLennan, are also offering to purchase, upon the terms and conditions set forth in the Offer to Purchase and the related Form of Acceptance, all outstanding 7.25% Convertible Bonds 2008 of Sedgwick (Sedgwick Convertible Bonds) for 123 pence for every 1 nominal amount of Sedgwick Convertible Bonds (the Convertible Offer and, together with the Ordinary Offer, the Offers). THE INITIAL OFFER PERIOD, AS CURRENTLY EXTENDED, WILL EXPIRE AT 1:00 P.M. (LONDON TIME), 8:00 A.M. (NEW YORK CITY TIME), ON NOVEMBER 3, 1998, UNLESS FURTHER EXTENDED (THE INITIAL OFFER PERIOD). THE OFFERS MAY BE DECLARED WHOLLY UNCONDITIONAL WHEN ALL CONDITIONS OF THE OFFERS HAVE BEEN SATISFIED, FULFILLED OR, WHERE PERMITTED, WAIVED. IN THE EVENT THE OFFERS BECOME OR ARE DECLARED WHOLLY UNCONDITIONAL, THE OFFERS WILL BE EXTENDED FOR A SUBSEQUENT OFFER PERIOD OF AT LEAST 14 CALENDAR DAYS (THE SUBSEQUENT OFFER PERIOD). HOLDERS OF SEDGWICK SECURITIES AND SEDGWICK CONVERTIBLE BONDS WILL HAVE THE RIGHT TO WITHDRAW THEIR ACCEPTANCES OF THE OFFERS DURING THE INITIAL OFFER PERIOD, AS CURRENTLY EXTENDED, INCLUDING ANY FURTHER EXTENSION THEREOF, BUT NOT DURING THE SUBSEQUENT OFFER PERIOD. The Ordinary Offer is conditional on, among other things, valid acceptances being received (and not, where permitted, withdrawn) by the expiration of the Initial Offer Period in respect of not less than 90 percent in nominal value of Sedgwick Securities to which the Ordinary Offer relates, or such lower percentage as Marsh & McLennan may decide, provided that such condition (the Acceptance Condition) shall not be satisfied unless Marsh & McLennan and/or its wholly owned subsidiaries shall have acquired or agreed to acquire, whether pursuant to the Ordinary Offer or otherwise, Sedgwick Securities carrying in the aggregate more than 50 percent of the voting rights then exercisable at general meetings of Sedgwick and all other conditions shall have been satisfied, fulfilled or, to the extent permitted, waived. MARSH & MCLENNAN HEREBY GIVES NOTICE THAT IT RESERVES THE RIGHT TO REDUCE THE PERCENTAGE OF SEDGWICK SECURITIES REQUIRED TO SATISFY THE ACCEPTANCE CONDITION TO NOT LESS THAN 50.1 PERCENT IN NOMINAL VALUE OF THE SEDGWICK SECURITIES TO WHICH THE ORDINARY OFFER RELATES. ANY SUCH REDUCTION OF THE PERCENTAGE OF SEDGWICK SECURITIES REQUIRED TO SATISFY THE ACCEPTANCE CONDITION WOULD NOT BE EFFECTED BEFORE NOVEMBER 2, 1998. ALTHOUGH SUCH REDUCTION IN THE PERCENTAGE OF SEDGWICK SECURITIES REQUIRED TO SATISFY THE ACCEPTANCE CONDITION IS POSSIBLE ON OR AFTER SUCH DATE, MARSH & MCLENNAN NEED NOT DECLARE ITS ACTUAL INTENTIONS UNTIL IT IS REQUIRED TO DO SO UNDER THE CITY CODE ON TAKEOVERS AND MERGERS. THERE MAY BE NO FURTHER ANNOUNCEMENT CONCERNING MARSH & MCLENNAN'S RIGHT TO REDUCE THE PERCENTAGE OF SEDGWICK SECURITIES REQUIRED TO SATISFY THE ACCEPTANCE CONDITION. ANY SUCH REDUCTION IN THE PERCENTAGE OF SEDGWICK SECURITIES REQUIRED TO SATISFY THE ACCEPTANCE CONDITION, ONCE ALL OTHER CONDITIONS TO THE ORDINARY OFFER HAVE BEEN FULFILLED, SATISFIED OR, WHERE PERMITTED, WAIVED, COULD RESULT IN THE ORDINARY OFFER BEING DECLARED WHOLLY UNCONDITIONAL AND THE CONSEQUENT TERMINATION OF WITHDRAWAL RIGHTS. ACCORDINGLY, HOLDERS OF SEDGWICK SECURITIES WHO HAVE ALREADY ACCEPTED THE ORDINARY OFFER BUT WHOSE WILLINGNESS TO ACCEPT WOULD BE AFFECTED IF THE PERCENTAGE OF SEDGWICK SECURITIES REQUIRED TO SATISFY THE ACCEPTANCE CONDITION WERE REDUCED TO A LEVEL LOWER THAN 90 PERCENT MAY WISH TO CONSIDER WITHDRAWING THEIR ACCEPTANCES NOW. Requests for assistance or copies of the Offer to Purchase, the Letter of Transmittal, the Forms of Acceptance and all other related materials may be directed to the U.S. Dealer Managers or the Information Agent as set forth below, and copies will be furnished promptly at Marsh & McLennan's expense. The Information Agent for the Offers is: GEORGESON & COMPANY INC. Wall Street Plaza New York, New York 10005 Banks and Brokers call collect (212) 440-9800 All Others Call Toll Free: 1-800-223-2064 The U.S. Dealer Managers for the Offers are: J.P. Morgan & Co. Donaldson, Lufkin & Jenrette 60 Wall Street 277 Park Avenue New York, New York 10260 New York, New York 10172 (212) 648-7843 (Call Collect) (212) 892-8223 (Call Collect) October 26, 1998 -----END PRIVACY-ENHANCED MESSAGE-----