J Smith Lanier had potential $325mn price tag: KBW

Marsh's middle market agency business could have paid around
$325mn for J Smith Lanier & Co, according to Keefe Bruyette
& Woods analyst Quentin McMillan.
In a note following the deal announcement, McMillan said the
estimated purchase price was based on the assumption Marsh &
McLennan Agency had paid 10 percent Ebitda and a 25 percent Ebitda
margin.
But the analyst said that Marsh still had a considerable amount
of disposable capital that could be used for further
acquisitions.
Follo