06:57 AM EST, 12/09/2024 (MT Newswires) -- Arthur J. Gallagher ( AJG ) announced Monday an underwritten public offering of $8.5 billion common shares.

The company said it plans to grant the underwriters a 30-day option to purchase up to about $1.28 billion additional common shares.

According to Arthur J. Gallagher ( AJG ), proceeds from the offering will be used to fund a portion of the cash consideration for its planned acquisition of Dolphin TopCo and for general working capital.