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Arthur J. Gallagher May Buy U.K. Broker, Sunday Telegraph Says

March 27 (Bloomberg) -- Arthur J. Gallagher & Co., a U.S. insurance broker, is in talks to buy Heath Lambert Ltd., a U.K. competitor, the Sunday Telegraph reported today, without saying where it got the information.

The transaction may be announced this week and could be worth more than 100 million pounds ($160 million), the report said.

To contact the reporter on this story: Rachel Graham in London rgraham13@bloomberg.net

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