Sedgwick stock is primarily traded on the London Stock Exchange and closed at 124 pence ($2.10) per share on July 11, though it had traded as high as 144 pence ($2.44) during the previous 52 weeks. But we've been told by our advisers that Rome was not built in a day," said Mr. "There's hardly any movement and hardly any purchase. As of July 11, it closed at $10.81 per share, up only slightly from the $10.45 share price at which it was first listed on June 2. There hasn't been much interest yet in the NYSE stock. Hopefully, opportunities will improve once the investment community gets to know Sedgwick, he reasoned. As a result, transatlantic acquisitions have proved "extremely difficult," said Mr. stock analysts are not familiar with the group. Sedgwick also sought a listing because U.S. "I think that it's very important that our clients and our staff see that we're in the same mode as them." Sedgwick considers itself a global broker, and "the other two global broking houses are duly listed in both New York and London," said Mr. Sedgwick last month decided for the first time to list its shares on the New York Stock Exchange. We have a single culture running right through our businesses worldwide, and we believe that being Europe-based makes us certainly an alternative player," Mr. Riley, "We don't necessarily want to be the biggest, but we want to be the highest-quality distributor of products and services. The group's revenues are less than half those of the world's second-largest broker, Aon, and less than one-third of Marsh & McLennan. In dollar terms, revenues inched up to $1.5 billion in 1996 from $1.47 billion in 1995. Sedgwick's gross revenues grew 3.1% last year to 960.3 million pounds from 931.5 million pounds at year-end 1995. 3 in Business Insurance's 1997 ranking of the world's largest brokers, based on 1996 gross revenues. Inc.-in recent months, Sedgwick's position among the world's top brokers hasn't changed.
In spite of the big acquisitions made by its two larger competitors-Aon Group Inc. Riley doesn't rule out a merger some day with Willis, though Willis has maintained that it would prefer to remain independent (BI, April 21). Riley said in the broker's annual report, "unless we are convinced that it met our aim of increasing shareholder value in the longer term." Sedgwick will not enter into any deal, Mr. Riley as chief executive and chairman of the executive management group.Īny mergers or acquisitions "would have to fit our strategy: to grow our consultancy business to add distribution where we think it brings us the right answers," he said. Rob White-Cooper, former vice chairman, succeeded Mr. Riley, formerly chief executive of Sedgwick, became group chairman earlier this year upon the retirement of Lord Fanshawe of Richmond. Herro, who upped his stake recently to 5.1%, said he has no plans to force the company's hand.Įven Sedgwick Chairman Sax Riley does not rule out any future mergers or acquisitions, though he acknowledges that it appears the first round of brokerage industry consolidation is complete. That play gave rise to rumors that if management didn't force a deal between the two brokerages, then shareholders would (BI, April 14). Indeed, earlier this year Chicago-based investor David Herro-who led a shareholders' revolt against the Saatchi & Saatchi advertising agency board a few years ago-raised his stake in Sedgwick to 3.1%. Aon declined to comment, though it is still looking to make acquisitions.Īnalysts believe that it's just a matter of time, though, before Sedgwick merges with one of its competitors, perhaps even with its London-based rival Willis Corroon Group P.L.C. was interested in buying Sedgwick, despite having three other major brokers to absorb. Recently there was talk in the London and New York stock markets that Aon Group Inc. is about to merge or be sold to another broker. Gross revenues $1.5 billion $1.47 billionĪ week doesn't go by without another whisper that Sedgwick Group P.L.C. Premium volume $11.13 billion $11.03 billion Internet: 1000 Ridgeway Loop Road, Memphis, Tenn.
Merge Sortįollowing is the Java based implementation of MergeSort, which uses an auxiliary array for maintaining intermediate values.44-17 fax: 44-17.
Java based implementation of the sorting algorithms is taken from Algorithms 4th Edition by Robert Sedgewick and Kevin Wayne.
Finally we will repeat the same steps for QuickSort algorithm. Continuing our functional journey, in this post I will first present the Java based implementation of merge sort followed by F# based implementation.
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