Gallagher in 'definitive' agreement with Liberty Mutual
Arthur J. Gallagher & Co, the US insurance broker, said that it has signed a "definitive" agreement to acquire all of the policy renewal rights from Liberty Mutual's middle-market commercial property/casualty business located in the US Midwest and Southeast regions for up to $120m.
The definitive agreement includes an initial payment in cash and stock of approximately $44m and additional payments in cash or stock (at Gallagher's election) that is based on revenues generated in
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