Apax and Morgan Stanley To Buy Hub International

Apax Partners and Morgan Stanley Principal Investments have agreed to acquire Chicago-based insurance brokerage Hub International Ltd. (NYSE: HBG; TSX: HBG) for $40 per share. The total deal is valued at approximately $1.8 billion, including around $145 million of assumed debt. Hub is being advised on the sale by Merrill Lynch. www.apax.com www.hubinternational.com