Arthur J. Gallagher & Co. Common Stock (AJG)

Eastern Bankshares, Inc. (“Eastern” or the “Company”) (NASDAQ Global Select Market: EBC), the stock holding company for Eastern Bank, announced that its wholly owned subsidiary Eastern Insurance Group, LLC (“Eastern Insurance”) today entered into a definitive agreement to sell its insurance operations to Arthur J. Gallagher & Co. (NYSE: AJG) (“Gallagher”) for approximately $510 million (“the insurance transaction”). Also today, Eastern and Cambridge Bancorp (NASDAQ: CATC) (“Cambridge”), the parent company of Cambridge Trust Company, announced they have entered into a definitive merger agreement pursuant to which Cambridge will merge with and into Eastern in an all-stock transaction valued at approximately $528 million (“the merger”).

Shares of Arthur J. Gallagher & Co. (NYSE: AJG) traded at a new 52-week high today and are currently trading at $226.26. So far today, approximately 61,021 shares have been exchanged, as compared to an average 30-day volume of 921.55k shares.

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Gallagher, a global insurance brokerage, risk management, and benefits consulting services firm, has entered into a strategic agreement with Southwest Value Partners (SWVP) and AEG, joint venture partners and co-developers of Nashville Yards’ entertainment district and music venue, to become the next Founding Partner of the 18-acre Nashville Yards.

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