Business Services Industry
Market moves.(briefs)
Business Insurance, June, 2007
Hub International acquisition completed CHICAGO-Apax Partners and Morgan Stanley Principal Investments have completed their $1.90 billion buyout of Hub International Ltd. and taken the Chicago-based insurance brokerage private. Hub shareholders approved the $41.50 per common share private equity buyout June 5, which was sweetened following competing proposals (BI, March 26; March 5).
"We look forward to working with Marty Hughes and the rest of the management team to grow the business both organically and by supporting Hub's long-established acquisition strategy,'' said Mitch Truwit, a partner at Apax, in a statement. Hub Chairman and Chief Executive Officer Martin Hughes said it will be business as usual. "There won't be any changes really in our...
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