Aon Inc. has agreed to purchase Gallagher Re in a deal worth $45 million.
The deal was announced less than a month after Arthur J. Gallagher Inc., Itasca, Ill., announced it was putting the company up for sale.
The transaction will involve an initial cash payment of $30 million from Aon, Chicago, and additional payments over the next 12 months. Gallagher said the payments should amount to an additional $15 million cash after closing.