The transaction is sourced from an SEC EDGAR Form 8-K filing published on December 20, 2023. Based on the facts provided, the deal's status is pending regulatory approval.
The financial advisory roster on this deal is extensive on the target side in particular. Evercore acted as lead financial advisor to NFP, with support from BofA Securities, Inc., Deutsche Bank Securities Inc., Jefferies LLC, and TD Securities, all named as financial advisors to NFP alongside Evercore in a supporting capacity. On the acquirer side, UBS Investment Bank served as the exclusive financial advisor to Aon on the transaction and is identified as the lead advisor in that role, while Citi served as a financial advisor and is advising Aon specifically on the transaction financing.
On the legal side, Skadden, Arps, Slate, Meagher & Flom LLP and Ropes & Gray LLP both acted as external legal counsel to NFP, while Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as external legal counsel to NFP's capital sponsors, a distinct constituency from NFP itself. On the acquirer side, Cravath, Swaine & Moore LLP and McDermott Will & Emery LLP both acted as external legal counsel to Aon.
Beyond confirming that this is a cash-and-stock acquisition with a disclosed value of 13,400,000,000 dollars, no further detail on the specific mix or ratio between the cash and stock components of the consideration is included in the facts available.
Several elements of this deal remain undisclosed. No specific breakdown of the cash-versus-stock consideration mix is given beyond the aggregate disclosed value, and no expected closing date is provided. The facts also do not specify what regulatory approvals are required or the anticipated timeline to completion.