Arthur J. Gallagher To Buy Buck Interests In BCHR Holdings

(RTTNews) - Arthur J. Gallagher & Co. (AJG), on Tuesday, announced it will acquire the partnership interests of BCHR Holdings, L.P., dba Buck for a total gross consideration of $660 million. The transaction is expected to close during the first half of this year.

Buck offers consulting and administration services for retirement, HR, and employee benefits and primarily serves clients across the United States, Canada, and the United Kingdom.

Arthur plans to finance the transaction using its free cash flow and short-term borrowings. The acquisition is projected to have a positive impact of approximately 2 percent on adjusted earnings per share for the trailing twelve-month period ending September 30, 2022.

Arthur J is currently trading at $204.92, up $1.11 or 0.54%.