AJG - Arthur J. Gallagher to fund $3.57B deal with debt equity free cash

Arthur J. Gallagher (AJG) expects to finance its $3.57B acquisition of of certain Willis Towers Watson (WLTW) assets with a combination of long-term debt, short-term borrowings, free cash, and common equity.Overall, the acquisition expands its global value of its reinsurance brokerage and the global footprint in retail property casualty and health & benefits brokerage.Adds to specialty operations such as energy, construction, cyber, space, and aerospace products.And gives to AJG a broad suite of analytics capabilities including catastrophe modeling, dynamic financial analysis, rating agency analysis and capital modeling.AJG shares edge up 0.1% in premarket trading.The company expects to keep its investment-grade debt rating.Sees non-recurring integration costs of ~$350M and expects the integration to take about three years.Expects the transaction to add 9%-11% to AJG's 2020 adjusted EPS, excluding earnings from clean-energy investments.Earlier, Aon and Willis Towers confirm deal to sell assets to Arthur J. Gallagher for $3.57B

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Arthur J. Gallagher to fund $3.57B deal with debt, equity, free cash