March 4 (Reuters) - Arthur J. Gallagher & Co. ( AJG ):

* ARTHUR J. GALLAGHER & CO. ( AJG ) ANNOUNCES AGREEMENT TO ACQUIRE

WOODRUFF SAWYER

* ARTHUR J. GALLAGHER & CO. ( AJG ) - UNDER AGREEMENT, GALLAGHER

WILL

ACQUIRE WOODRUFF SAWYER FOR CONSIDERATION OF $1.2 BILLION

* ARTHUR J. GALLAGHER & CO. ( AJG ) - WOODRUFF SAWYER TEAM TO

OPERATE

UNDER PETER DOYLE

* ARTHUR J. GALLAGHER & CO. ( AJG ) - INTEGRATION AND RETENTION

COSTS

EXPECTED TO TOTAL $150 MILLION OVER NEXT 3 YEARS

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