AON TO ACQUIRE NFP IN A $13.4 BILLION CASH AND STOCK TRANSACTION

21 December 2023

On December 20th, 2023, Aon plc (NYSE: AON), a leading global professional services firm, announced the signing of a definitive agreement to acquire NFP, a leading middle market property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, from funds affiliated with NFP’s main capital sponsor, Madison Dearborn Partners (MDP), and funds affiliated with HPS Investment Partners.

Under the terms of the transaction, Aon will acquire NFP for a total consideration estimated to be $13.4B at the time of close, which will be funded by $7B of cash and $6.4B of Aon stock.

Closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to occur in mid-2024.

Aon To Acquire NFP, A Leading Middle-Market Provider Of Risk, Benefits, Wealth And Retirement Plan Advisory Solutions


Etalon Capital, Inc. provides independent research with a focus on event-driven value equities to institutional investors. Events include M&As, spin-offs, activist investors, IPOs, SPACs, buybacks, recapitalizations, asset sales, hedge fund holdings, and other significant corporate transactions. These are diversified by sources of risk as well as risk/return profiles. We generate an edge with a unique research process, combining value, focus on corporate events, and story investing principles.

www.etalon-capital.com