Morneau Shepell to acquire the health and defined benefit pension plan administration business of Mercer for $57m.

Morneau Shepell, the leading provider of technology-enabled HR services, agreed to acquire the health and defined benefit pension plan administration business of Mercer, a global consulting leader in advancing health, wealth and career, for $57m. The acquisition is subject to customary closing conditions and is expected to close in the third quarter of 2019. "This planned acquisition is in line with our strategy to grow our business profitably in the US market and further solidify Morneau Shepell as a leading provider of health and DB plan administration across the United States," said Stephen Liptrap, President and Chief Executive Officer, Morneau Shepell. "I am looking forward to welcoming our new employees to Morneau Shepell. With their support and the support of our current staff, we will have the capacity and expertise to deliver exceptional services to our newly acquired clients."