07:20 AM EST, 12/09/2024 (MT Newswires) -- Arthur J. Gallagher & Co ( AJG ) said Monday that it has agreed to acquire AssuredPartners for $13.45 billion to strengthen its position in the US retail middle-market property/casualty and employee benefits sectors.

The company said the transaction, expected to close in Q1 2025, will be financed through a mix of debt, short-term borrowings, free cash, and equity.

The acquisition, which includes an estimated $1 billion deferred tax asset, has an effective net consideration of about $12.45 billion.

Gallagher expects $160 million in synergies and $500 million in integration costs over the next three years.