London insurer eyes Marsh & McLennan

Willis Group Holdings, the London-based insurance broker, is talking takeover with Marsh & McLennan, CNBC reported. It's been a rocky rod for Marsh in recent months. In December, it booted chief executive Michael Cherkasky amid disheartening financial results during 2007. The firm also sold off its Putnam asset management arm to Winnipeg-based Great-West Lifeco Inc. in August. Meanwhile, Toronto-based K.J. Harrison & Partners is pushing Marsh to sell its Kroll security consulting arm and Mercer, the human resources unit, Reuters said. Although talk of Marsh’s sale has circulated for years, rumors of a possible buyout are heating up. Trian Partners LP, helmed by activist investor Nelson Peltz, purchased a stake in Marsh two weeks ago, having received antitrust approval from the Federal Trade Commission, according to published reports.