Arthur J. Gallagher & Co. (NYSE:AJG) signed a definitive agreement to acquire M&T Insurance Agency, Inc. from M&T Bank Corporation (NYSE:MTB) for approximately $190 million on September 29, 2022. Gallagher will become the preferred insurance broking partner of M&T Bank. The transaction is subject to regulatory approval and is expected to close during the fourth quarter of 2022. Piper Sandler & Co. is acting as exclusive financial advisor and Hodgson Russ LLP is acting as legal counsel to M&T Bank.
Arthur J. Gallagher & Co. (NYSE:AJG) completed the acquisition of M&T Insurance Agency, Inc. from M&T Bank Corporation (NYSE:MTB) on October 31, 2022.