Aon to acquire NFP – On-Site Magazine

Global professional services firm Aon plc has signed a definitive agreement to acquire NFP, a leading middle market property and casualty broker, benefits consultant, wealth manager and retirement plan advisor. Under the terms of the transaction, Aon will acquire NFP for a total consideration estimated to be $13.4 billion (US) at the time of close, which will be funded by $7 billion in cash and $6.4 billion of Aon stock.

Aon says the acquisition of NFP will expand its presence in the large and fast-growing middle-market segment, with capabilities across risk, benefits, wealth and retirement plan advisory.

Doug Hammond, chairman and CEO of NFP, will continue to lead the business as an independent but connected platform within Aon, reporting to Eric Andersen, president of Aon.

“We have continually evolved our leading capabilities to better serve our clients’ growing needs amidst increasing volatility across the marketplace,” said Greg Case, CEO of Aon. “The acquisition will advance our relevance to clients, create opportunities for our colleagues and further strengthen our shared cultural values. Doug and NFP have built an exceptional team, with a complementary…