Arthur J. Gallagher Acquires Adelaide, South Australia-Based My Plan Manager; Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Arthur J. Gallagher & Co., a global insurance brokerage, risk management, and consulting services firm, has acquired My Plan Manager, an Adelaide, South Australia-based company. My Plan Manager is known for being one of Australia's largest plan management services that supports National Disability Insurance Scheme (NDIS) participants. The financial terms of the acquisition were not disclosed.
December 07, 2023 | 10:01 pm
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Arthur J. Gallagher & Co. has acquired My Plan Manager, expanding its international presence and services in the disability insurance sector. The financial terms were not disclosed, which is common in such deals.
The acquisition of My Plan Manager by Arthur J. Gallagher & Co. is likely to have a positive short-term impact on AJG's stock price. Acquisitions can lead to synergies, expanded market share, and revenue growth. Although the financial terms were not disclosed, the market typically reacts positively to expansion news, especially when it involves entering new markets or enhancing existing services. The lack of financial details might temper the impact slightly, but overall investor sentiment is expected to be positive.
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