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Arthur J. Gallagher to buy AssuredPartners in $13.45 billion deal

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Arthur J. Gallagher & Co. has agreed to acquire AssuredPartners Inc. in a deal valued at $13.45 billion, aiming to expand its presence in the insurance brokerage market. The acquisition will be financed through a combination of $3.15 billion in cash, $2.6 billion in stock, and the assumption of $7.7 billion in debt. This strategic move is expected to enhance Gallagher's capabilities in various insurance sectors, including property and casualty, employee benefits, and private client services. The transaction, which has been approved by the boards of both companies, is anticipated to close in mid-2024, subject to regulatory approvals and customary closing conditions.

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[ https://www.msn.com/en-us/money/economy/arthur-j-gallagher-to-buy-assuredpartners-in-13-45-billion-deal/ar-AA1vwLv1 ]