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Aon Says Benfield Buy Cost Less Than Projected

In August Chicago-based Aon Corp. said the acquisition of the London-based reinsurance broker, for ?3.50 a share plus the assumption of ?91 million of the firm's debt, was expected to cost Aon $1.75 b

By Mark E. Ruquet | Updated on December 01, 2008

Insurance broker Aon said Friday that the final cost of its Benfield purchase was $1.4 billion, $350 million less than originally projected because of the strong dollar.

In August Chicago-based Aon Corp. said the acquisition of the London-based reinsurance broker, for ?3.50 a share plus the assumption of ?91 million of the firm’s debt, was expected to cost Aon $1.75 billion. However, Aon explained, with improvement in the U.S. dollar, the actual cost as of Nov. 25 works out to $1.43 billion.

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