Arthur J. Gallagher & Co. (NYSE: AJG) is set to buy insurance broker Blue Holdings Pty Ltd. for an undisclosed price.

The Itasca, Illinois-based buyer already has operations in 30 countries and offers client-service capabilities in more than 140 countries around the world through a network of correspondent brokers and consultants. By acquiring Blue Holdings, Arthur J. Gallagher expands the company's footprint into Australia, according to CEO J. Patrick Gallagher Jr.

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