Arthur J. Gallagher & Co. (NYSE:AJG) signed an agreement to acquire the global aerospace operations of Jardine Lloyd Thompson Group plc (LSE:JLT) for approximately £190 million on March 4, 2019. Consideration is payable in cash at completion, with a small proportion payable on the second anniversary of completion subject to performance of the aerospace business. In the year ended December 31, 2018, the business generated revenues of approximately £65 million and estimated Profit Before Tax of £12 million. The transaction includes the transfer of its personnel. Approximately 250 employees from JLT's global aerospace division will join Gallagher as part of the agreement. This includes around 100 employees within JLT's London Market operations who will become part of Gallagher's existing aviation division. The sale of the aerospace business is subject to the approval of the European Commission, which will now initiate its normal process to market test the proposed remedy before deciding whether it is sufficient to meet its concern as to a potential overlap in the aerospace area. Completion of the sale will be conditional upon completion of the acquisition of Jardine Lloyd Thompson Group plc by Marsh & McLennan Companies, Inc. as well as customary regulatory approvals. The acquisition is scheduled to close this spring. The sale proceeds will be received following the completion of the acquisition of Jardine Lloyd Thompson Group plc by Marsh & McLennan Companies, Inc., and there is no impact on the terms of that transaction. Conor Hillery, Edward Squire and James Robinson of J.P. Morgan Cazenove and Tim Wise of Simon Robertson Associates acted as financial advisors for Jardine Lloyd Thompson Group plc. Peter J. Beshar, Katherine J. Brennan, Connor Kuratek, Richard Smith, Oliver Broomfield, Loretta Li, John Boyce, Poppy Smith, Cathy Connolly, Oliver Howley, Daniel Owen, Jonathan Fenn, Katherine Flower, Ellie Wilson, Nick Bonsall, Srijanee Bhattacharyya, Sara Luder and Alex Fisher of Slaughter and May acted as legal advisors to Marsh & McLennan Companies Inc. Barclays Bank PLC acted as financial advisor to Jardine Lloyd Thompson Group plc. George Knight and Ben Ward of Allen Overy acted as a legal advisor to Arthur J. Gallagher. Arthur J. Gallagher & Co. (NYSE:AJG) completed the acquisition of the global aerospace operations of Jardine Lloyd Thompson Group plc (LSE:JLT) on June 1, 2019.