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Gallagher Re Sale Worth $45 Million

The transaction, announced Friday, will involve an initial cash payment of $30 million from Chicago-based Aon and additional payments over the next 12 months. Itasca, Ill.-based Gallagher said the pay

By Mark E. Ruquet | Updated on February 25, 2008

Aon has agreed to purchase Gallagher Re in a deal worth $45 million less than a month after Arthur J. Gallagher announced it was putting the company up for sale.

The transaction, announced Friday, will involve an initial cash payment of $30 million from Chicago-based Aon and additional payments over the next 12 months. Itasca, Ill.-based Gallagher said the payments should amount to an additional $15 million cash after closing.

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