Arthur J. Gallagher & Co. Updates on AssuredPartners Purchase
Arthur J. Gallagher & Co. is actively navigating through the regulatory landscape related to its intended acquisition of AssuredPartners, Inc. Recently, the company received a second request for information as part of the Hart-Scott-Rodino (HSR) filing, a typical procedure in transactions of this nature.
The request for additional information signifies a standard step in the regulatory review process. This action typically extends the waiting period required by the HSR Act, which means Gallagher must respond and comply with the new request before the transaction can proceed. In this case, the waiting period may last until 30 days after Gallagher has provided the necessary information, though it could potentially be shortened or extended, depending on the antitrust agency's discretion.
Overview of the Acquisition Process
This acquisition aims to bolster Gallagher's position in the insurance brokerage sector. AssuredPartners, a notable player in this space, brings a wealth of experience and a client-centric approach that aligns well with Gallagher's vision.
As part of the ongoing process, Gallagher is ensuring prompt and thorough responses to the regulatory queries, maintaining its commitment to transparency and compliance. The company anticipates that this acquisition will be finalized in the latter half of the upcoming fiscal year.
About Arthur J. Gallagher & Co.
Founded as a global insurance brokerage and risk management firm, Arthur J. Gallagher & Co. operates across approximately 130 countries. With a dedication to excellent client service, Gallagher provides a broad range of risk management and consulting services through its extensive network of operations and correspondent brokers.
The company is headquartered in Rolling Meadows, Illinois, and is publicly traded on the New York Stock Exchange under the ticker symbol NYSE: AJG. Gallagher's commitment to enhancing its service portfolio through acquisitions such as AssuredPartners demonstrates its strategic growth initiatives designed to better serve its clients.
Investor and Media Contact Information
For inquiries related to investor relations or media, individuals can reach out to:
Investors Contact
Ray Iardella
VP - Investor Relations
Phone: 630-285-3661
Media Contact
Paul Day
Senior Media Relations Manager
Phone: 630-285-5946
Frequently Asked Questions
What triggered the second request for information?
The second request is a formal part of the regulatory review process for the acquisition, ensuring thorough oversight.
When is the anticipated closure date for the acquisition?
Gallagher expects the deal to be finalized in the second half of the upcoming fiscal year.
What does this acquisition mean for Gallagher?
This acquisition will enhance Gallagher’s capabilities in the insurance brokerage space and expand its market presence.
How does Gallagher typically handle regulatory inquiries?
Gallagher prioritizes compliance and transparency, ensuring prompt and thorough responses to regulatory requests.
Where is Arthur J. Gallagher & Co. headquartered?
The company is headquartered in Rolling Meadows, Illinois.
