AON Buys NFP
AON plc, the health and retirement solution-providing company, will buy the middle market’s wealth, risk and plan advisory company NFP in a $13.4 billion deal.
AON plc will pay 7 billion dollars in cash and AON stock worth $6.4 billion to own the company. NFP was affiliated with HPS Investment and Madison Dearborn and both will carry over to AON plc operations.
AON’s CEO Greg Case said they want to expand their business to capture midmarket risk, wealth and retirement advisory. The company said that this deal will generate around 3 billion pre-tax gains. NFP has 7700 employees.
CEO of NFP Doug Hammond will lead the company to operate independently and report to Eric Anderson, The AON’s president. NFP will be integrated with AON.
AON will pay the deal value through its financial transaction advisor, UBS Investment Bank.
