Aon’s previously announced $13.4 billion acquisition agreement with middle-market P&C broker NFP continues to gain traction, with the waiting period having now expired under the Hart-Scott-Rodino (HRS) Antitrust Improvements Act of 1976.
For those unaware, the HSR Act requires firms involved in mergers and acquisitions above a certain value to notify the Federal Trade Commission and the U.S. Department of Justice before consummating the deal.
Both buying and selling firms submit an HSR Form, which includes information about the industry and their respective businesses.
Upon submission, the merging firms must observe a mandatory waiting period of 30 days before closing the deal to allow the agencies to assess the transaction for anticompetitive harms.
According to Aon, the transaction remains subject to the receipt of other applicable regulatory approvals and customary closing conditions.
As a reminder, Aon is set to acquire NFP for a total consideration estimated to be $13.4 billion at the time of close, which will be funded by $7 billion of cash and $6.4 billion of Aon stock.
Aon has suggested that the acquisition of NFP will play a key role in expanding its presence within the fast-growing middle-market segment, with capabilities across risk, benefits, wealth and retirement plan advisory.
The transaction is expected to close in mid-2024 and, until closing, Aon and NFP will continue to operate independently.
