Insurance broker AssuredPartners is in advanced talks with Arthur J. Gallagher & Co. to be acquired in a deal worth approximately $12 billion, according to a person familiar with the matter. The potential acquisition could be announced as early as Monday.
This deal comes after Bloomberg News reported last year that private equity owners GTCR and Apax Partners were exploring options, including a full sale of the company. Discussions between the two parties are now advanced, but they could still falter or be delayed.
AssuredPartners’ revenue has increased significantly due to inflation driving up prices for high-value items such as homes and cars, resulting in higher fees for insurance brokers. In 2019, an investor group led by GTCR acquired a majority stake in the company from Apax for $5.1 billion.
Source: https://finance.yahoo.com/news/arthur-j-gallagher-nears-12-201742202.html