Arthur J. Gallagher to Acquire AssuredPartners for $13.45 Billion

Arthur J. Gallagher & Co., a global insurance brokerage, risk management, and consulting firm, announced on Monday that it has reached a definitive agreement to acquire AssuredPartners from private equity owners. The gross value of the transaction is set at $13.45 billion, although a projected $1 billion deferred tax asset, expected to reduce the net cost to $12.45 billion, has not been accounted for. This acquisition aims to enhance Gallagher's mid-market retail property and casualty insurance offerings across the United States. The Rolling Meadows, Illinois-based company plans to finance the deal through a combination of long-term debt, short-term borrowings, existing cash, and common stock. Gallagher anticipates realizing approximately $160 million in synergies while expecting to incur about $500 million in integration costs over the next three years. The completion of this acquisition is subject to regulatory approvals and is expected to close in the first quarter of next year.