Bollinger Sold to Arthur J. Gallagher & Co.

Bollinger, Inc., one of the nation's largest insurance brokers, was sold to Arthur J. Gallagher & Co., the fourth largest insurance broker in the world, in a tax-free reorganization that was completed on August 12, 2013.

Bollinger, based in Short Hills, N.J., provides services spanning retail property and casualty insurance placement; wholesale brokerage and program management; and employee benefits brokerage and consultancy. Gallagher, headquartered in Itasca, Illinois, is a New York Stock Exchange-listed company with operations in 20 countries worldwide. The parties announced that the stockholders of Bollinger received total net merger consideration of approximately $276.5 million in a combination of cash and Gallagher shares.

Morrison Cohen represented Bollinger in connection with the transaction.