An Australian conglomerate is purchasing one of the nation'slargest publicly owned insurance brokerage firms for more than $500million.
Wesfarmers, a multi-interest conglomerate, said it wouldpurchase OAMPS for $700 million Australian (U.S. $535 million atcurrent exchange rate). The deal involves a cash offer of $4.50($3.44) per share of OAMPS stock.
In statements, the companies said the board of OAMPS unanimouslyrecommended accepting the offer in the absence of a superiorproposal.
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