Access Plans Inc (fka APNC)

[MoneyMan]

Aon to acquire Access Plans for $70 million

http://www.marketwatch.com/story/aon-to-acquire-access-plans-for-70-million-2012-02-27

Aon Corp. /quotes/zigman/218101/quotes/nls/aon AON +0.30% plans to pay roughly $70 million to acquire membership benefits marketing company Access Plans Inc. /quotes/zigman/584008 APNC +1.09% , bringing a new market to the insurance brokerage and consulting firm.

The purchase of Access Plans, which offers bundled plans of non-insurance products and services like discounted medical coverage and hotel rooms, has been approved by a majority of the company's shareholders and the boards of both companies.

"Continued growth is a top priority at Aon Affinity, and the addition of Access Plans opens up an exciting new market and discount product portfolio for us, said Bill Vit, president of Aon Affinity, the consumer, association and group program business of Aon's risk management arm.

Access Plans will operate as a business unit of Aon Affinity. The deal is expected to close during the second quarter.

Aon earlier this month reported its fourth-quarter profit rose 20% as firm again logged solid results in its human resources business and saw restructuring efforts pay off.

Shares closed Friday at $47.53 and were inactive premarket. The stock is up 1.6% since the start of the year.