08:00 AM EDT, 09/30/2024 (MT Newswires) -- Marsh & McLennan ( MMC ) said on Monday it had agreed to acquire McGriff Insurance Services through its Marsh McLennan Agency business in a $7.75 billion cash deal.

The company said the transaction would enhance its offerings in commercial property and casualty, employee benefits, management liability, and personal lines.

The transaction, expected to close by the end of the year, would be funded by a combination of cash and debt financing proceeds.

Marsh & McLennan ( MMC ) would also take on a deferred tax asset valued at about $500 million.

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