Tompkins Financial Sells Its Subsidiary, Tompkins Insurance Agencies To Arthur J. Gallagher For ~$223M In Cash; Transaction Generates Pre-Tax Gain Of $183M
Benzinga Newsdesk 12 months ago
M&ANews
Tompkins Financial Corporation ("Tompkins" or the "Company") announced today that it has closed on the sale of its wholly owned subsidiary, Tompkins Insurance Agencies, Inc. ("TIA") to Arthur J. Gallagher & Co.
Tompkins Financial Corporation ("Tompkins" or the "Company") announced today that it has closed on the sale of its wholly owned subsidiary, Tompkins Insurance Agencies, Inc. ("TIA") to Arthur J. Gallagher & Co. ("Gallagher") (NYSE:AJG) for approximately $223 million in cash, subject to customary purchase price adjustments. The transaction generates a pre-tax gain of $183 million.