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Slide #84. Brown & Brown, Inc. — Beecher Carlson Holdings, Inc.
Brown & Brown, Inc. (NYSE:BRO)
Beecher Carlson Holdings, Inc.
J. Powell Brown, Chief Executive Officer and President of Brown & Brown, Inc. (NYSE: BRO), today announced that Brown & Brown, Inc. has entered into a merger agreement to acquire Beecher Carlson Holdings, Inc. ("Beecher Carlson"), an insurance and risk management broker with operations that include retail brokerage, program management and captive management, from Austin Ventures, FSPM and a group of individual employee and non-employee equityholders. The transaction is expected to close in July of 2013 and is subject to customary closing conditions, including regulatory approval. The transaction will be a cash acquisition and is not subject to financing conditions.
Brown & Brown is an insurance agency, wholesale brokerage, insurance programs and service organization. Co.'s segments are: Retail, which provides a range of insurance products and services, and as non-insurance services and products; National Programs, which provides professional liability and related package products, a range of insurance products, flood coverage, and targeted products and services; Wholesale Brokerage, which markets and sells excess and surplus commercial and personal lines insurance; and Services, which provides insurance-related services, including third-party claims administration and adjusting services, and medical utilization management services.
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Buy (2.57 out of 4)