Every few days or each week lately, adverse weather continues to be reported in most areas throughout the U.S. It could be anything from drought-ridden areas at risk of wildfires or fires from lightning strikes to the Mid-Central Plains, Midwest and Southern region struggling to battle historic and nearly unmanageable flooding. Based up recent reports, there doesn't appear to be any relief in sight nor a break in this weather pattern anytime soon.
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On June 24, Arthur J. Gallagher & Co. announced that the company has completed and funded a note purchase agreement for the private placement of $700 million of senior unsecured notes. The agreement provides for six series of notes with a weighted average coupon rate of 4.02% and maturities as follows: $50 million due in each of 2018, 2019 and 2020, $200 million due in 2023, $200 million due in 2025 and $150 million due in 2026. Further details regarding these notes are available in our Current Report on Form 8-K filed with the SEC.
On June 13, Arthur J. Gallagher & Co. announced the acquisition of The Plus Companies, Inc. in Bridgewater, New Jersey. Terms of the transaction were not disclosed.
On June 11, Arthur J. Gallagher & Co. announced the acquisition of Tri-State General of Salisbury, Maryland. Terms of the transaction were not disclosed.
Douglas K. Howell, Chief Financial Officer of Arthur J. Gallagher & Co. (NYSE: AJG), will speak at the Stephens' 2014 Spring Investor Conference at the New York Palace Hotel in New York on Wednesday, June 4, 2014 at 3:00 p.m.ET. To listen to the live audio webcast of Mr. Howell's comments, log onto the conference website at http://wsw.com/webcast/stph22/ajg . A replay of this webcast will be available at the same URL within 24 hours and remain archived at the same link through September 4, 2014.
On May 27, Arthur J. Gallagher & Co. announced the acquisition of MGA Insurance Group of Lakewood Ranch, Florida. Terms of the transaction were not disclosed.
On May 21, Arthur J. Gallagher & Co. announced the acquisition of Heritage Insurance Management Limited (Heritage) based in St Peter Port, Guernsey. Terms of the transaction were not disclosed.
On May 19, Arthur J. Gallagher & Co. announced that it has signed an agreement to acquire Noraxis Capital Corporation. Upon completion of the transaction, Gallagher will hold approximately 87% of the equity interests in Noraxis. The remaining 13% will continue to be owned by various management employees of Noraxis. The transaction is subject to regulatory approval and is expected to close in July of 2014.
ITASCA, Ill., May 13, 2014 /PRNewswire/ -- Arthur J. Gallagher & Co. is pleased to announce that its Board of Directors has appointed Curtis Anderson, Sarah DiLorenzo, Richard Tallo and Thomas Tropp as Corporate Vice Presidents.
On May 12, Gallagher announced that Richard Tallo has joined the company as its new Chief Marketing & Communications Officer. In this new role, he will lead Gallagher's global marketing and communications efforts, and will report directly to J. Patrick Gallagher, Jr., its Chairman, President and Chief Executive Officer.