Arthur J. Gallagher said on December 7, 2024 it signed a definitive agreement to acquire AssuredPartners for gross consideration of $13.45 billion, with the transaction expected to close in Q1 2025. The company said it expects to fund the transaction using $8.5 billion of cash raised in a follow-on common stock offering and $5.0 billion of cash borrowed in a senior notes issuance.

1. 01

   Arthur J. Gallagher said on December 7, 2024 it signed a definitive agreement to acquire AssuredPartners for gross consideration of $13.45 billion, with the transaction expected to close in Q1 2025. The company said it expects to fund the transaction using $8.5 billion of cash raised in a follow-on common stock offering and $5.0 billion of cash borrowed in a senior notes issuance.

2. 02

   Arthur J. Gallagher said on December 19, 2024 it issued $5,000.0 million of unsecured senior notes in 5 tranches, with a weighted average interest rate of 5.25% per annum after giving effect to underwriting costs and a net hedge gain. The company said the net proceeds will be used to fund a portion of the cash consideration payable in connection with the AssuredPartners transaction.

3. 03

   Arthur J. Gallagher said operating cash flow for 2024 was $2,582.9 million, an increase from $2,031.7 million in 2023, and consolidated EBITDAC was $3,124.4 million (compared with $2,555.6 million in 2023).

4. 04

   Arthur J. Gallagher said as of December 31, 2024 it held $15,371.6 million in money market accounts within cash and cash equivalents, an increase from $1,744.9 million at the end of 2023. The company said interest income, premium finance revenues and other income, which includes the related earnings, was $473.2 million, of which $29.0 million relates to cash raised for the AssuredPartners financing.

Key figures

Fiscal year ended December 31, 2024

Revenue

$11.6B

Net income

$1.5B

EPS

$6.50

Operating cash flow

$2.6B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.