05:43 AM EDT, 04/24/2024 (MT Newswires) -- Marsh McLennan ( MMC ) said late Tuesday it has agreed to acquire Fisher Brown Bottrell Insurance for $315.9 million in cash.

The acquisition will help its expansion across southeast US with 10 offices across Mississippi, Alabama and Florida. The deal is set to close in Q2, the company said.

Shares of the company were down 5% in recent Wednesday premarket activity.

Price: 191.63, Change: -10.08, Percent Change: -5.00