Financial M&A » By The Online Investor Staff, updated Sat., Apr. 17, 8:28 AM
Recent mergers and acquisitions in the Financial M&A category.
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Slide #75. Arthur J. Gallagher & Co. — Wesfarmers Insurance Brokerage Operations
Acquirer:
Arthur J. Gallagher & Co. (NYSE:AJG)
Acquiree:
Wesfarmers Insurance Brokerage Operations
Details:
Arthur J. Gallagher & Co. (NYSE: AJG) today announced that it has signed an agreement to acquire the Wesfarmers Insurance Brokerage operations. The transaction, which includes the OAMPS businesses in Australia and the United Kingdom, Crombie Lockwood in New Zealand and the associated premium funding operations, is subject to regulatory approval and is expected to close during the second or third quarter of 2014.
Gallagher (Arthur J.) is a holding company. Through its subsidiaries, Co. provides insurance brokerage, consulting, and third party claims settlement and administration services to both domestic and international entities. Co.'s segments are: brokerage, which is primarily comprised of its retail and wholesale insurance brokerage operations; risk management, which provides contract claim settlement and administration services for enterprises and public entities that choose to self-insure their property/casualty coverages and for underwriting enterprises that choose to outsource their property/casualty claims departments; and corporate, which manages its clean energy and other investments.
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Avg. Broker Rec.
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Buy (3.00 out of 4) 33rd percentile
(ranked lower than approx. 67% of all stocks covered)
Analysts' Target Price: AJG Stock Forecast Based on Zacks ABR data; powered by Xignite |
