Aon is close to acquiring insurance brokerage USI Insurance Services from private equity firm KKR for about $17 billion, the Wall Street Journal reported. An announcement could come as early as Monday, and the report said the deal is expected to boost Aon's earnings per share as soon as 2028.
Aon Plc is close to an agreement to acquire insurance brokerage USI Insurance Services from KKR for about $17 billion, including debt, the Wall Street Journal reported Sunday, citing people familiar with the matter. The deal could be announced as early as Monday, provided negotiations conclude successfully.
Reuters said it could not immediately verify the report. London-headquartered Aon and Valhalla, New York-based USI could not immediately be reached for comment, while New York City-based KKR declined to comment.
This would be the latest in a string of big exits for KKR, which include the sale of its data-center cooling business CoolIT and the sale of Circor's commercial and defense aerospace unit. KKR, along with Canadian pension fund Caisse de dépôt et placement du Québec, acquired USI from Onex Corporation in 2017 for $4.3 billion, including debt. KKR has since made an additional investment of more than $1 billion, making it USI's largest shareholder.
Meanwhile, the acquisition would strengthen USI's capabilities in helping midsize businesses and is expected to increase earnings per share as soon as 2028, according to the report.
Source: Investing.com
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