Gallagher Agrees to Buy AssuredPartners in $13 Billion Deal (1)

Arthur J. Gallagher & Co agreed to acquire insurance broker AssuredPartners in a $13.45 billion deal, its largest-ever acquisition.

Gallagher — which intends to finance the deal with a combination of debt and equity — announced an $8.5 billion common stock offering to fund the acquisition.

The deal is expected to be completed in the first quarter, Gallagher said in a statement Monday.

The transaction will expand Rolling Meadows, Illinois-based Gallagher’s focus on middle-market property and casualty insurance, as well as employee benefits, in the US. It also allows it to grow its teams in the UK and Ireland, and ...