On's $17B USI acquisition
On is approaching a deal valued at nearly $17 billion, which is likely to include the purchase of USI Insurance Services from KKR. The aim is to expand its presence among mid-sized companies and enhance its profitability by 2028. USI specializes in risk management and retirement consulting, generating annual revenues of approximately $3 billion. This potential acquisition aligns with On’s strategy to expand its business scope, following the company's confirmed profits in the second quarter and a 5.6% decline in its share price.
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