Activist seeks breakup of Marsh & McLennan

Toronto investment firm K.J. Harrison & Partners is urging Marsh & McLennan Cos. to spin off two of its units saying performance had "deteriorated financially and operationally" and that its strategy was flawed.

K.J. Harrison, which controls about 1.1 million shares, demanded that the company put a proposal for such a spinoff in the proxy for the company's next annual meeting. Marsh & McLennan is currently trading near its 52-week low of $24.02 a share.

Earlier this year Marsh & McLennan sold its Putnam investment company to Canadian insurer Great-West Lifeco Inc. for $3.9 billion. — Matthew Wurtzel

See story from Reuters
See TheDeal.com: Great-West to buy Putnam

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