Aon plc. (AON)

Shares of Aon plc. (AON) dropped by 6.03% from $313.01 to $294.12 in the trading on Wednesday, December 20, 2023. The reason why AON down today is due to the announcement of its acquisition of insurance broker NFP for $13.4 billion in cash and stock. This strategic move aims to expand Aon's presence in the middle-market insurance segment, covering risk, benefits, and retirement and wealth plan advisory services. Aon expects the deal to yield over $2.8 billion in pre-tax gains, with $400 million in one-time costs. The transaction is set to close in mid-2024 and is projected to positively impact adjusted earnings per share by 2027. Doug Hammond, NFP's Chair and CEO, will continue to lead the business under the oversight of Eric Andersen, Aon's President.