{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-25-102316","form_type":"8-K","ticker":"BRO","cik":"0000079282","company_name":"BROWN & BROWN, INC.","filed_at":"2025-08-05T23:59:59+00:00","discovered_at":"2026-05-14T18:02:46.380458+00:00","generated_at":"2026-05-17T21:11:11.778926+00:00","sec_items":["2.01","3.02","7.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Brown & Brown closes $9.825B acquisition of Accession Risk Management Group","bullets":["Total purchase price $9.825B; net merger consideration ~$4.7B ($3.5B cash + $1.2B stock).","Stock consideration valued at $110.57 per share; unregistered shares issued under private placement.","Lock-up: 20% released on 2nd, 3rd, 4th anniversaries; 40% on 5th anniversary.","Accession includes Risk Strategies and One80 Intermediaries brands."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-25-102316","json":"https://secwatch.observer/filing/0000950170-25-102316.json","markdown":"https://secwatch.observer/filing/0000950170-25-102316.md","text":"https://secwatch.observer/filing/0000950170-25-102316.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/79282/000095017025102316/0000950170-25-102316-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/79282/000095017025102316/bro-20250801.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T21:11:11.778926+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"5ebe5d9d663eb735a80287d260be92c33a78d43c","claim":"BROWN & BROWN, INC. completed an acquisition involving RSC Topco, Inc. for $9.825 billion (closed 2025-08-01).","evidence_excerpt":"On August 1, 2025, Brown & Brown, Inc., a Florida corporation (the “Company”), completed its previously announced acquisition of RSC Topco, Inc., a Delaware corporation (“RSC”), pursuant to that certain Agreement and Plan of Merger (the “Merger Agreement”), dated as of June 10, 2025, by and among RSC, the Company, Encore Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger Sub”), and Kelso RSC (Investor), L.P., a Delaware limited partnership, solely in its capacity as the equityholder representative (the “Kelso Investor”), pursuant to which the Company acquired RSC for an aggregate purchase price of $9.825 billion, paid at the closing of the Merger (the “Closing”), subject to certain customary post-Closing adjustments as set forth in the Merger Agreement (the “Transaction”).","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/79282/000095017025102316/0000950170-25-102316-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"RSC Topco, Inc."},{"label":"Consideration","value":"$9.825 billion"},{"label":"Closing","value":"2025-08-01"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}