Hilb Rogal & Hobbs Co. (HRH) To Be Bought Out By Willis Group Holdings Ltd. (WSH)
A Virginia employee benefits firm with a major presence in Central Ohio on Monday announced a buyout deal with global insurance broker Willis Group Holdings Ltd. (WSH). Richmond, Va.-based Hilb Rogal & Hobbs Co. (HRH) said it will be acquired by London-based Willis Group in a deal valued at $2.1 billion. Willis will buy all outstanding Hilb Rogal stock for $46 a share, representing a 49-percent premium over the firm's Friday close of $30.89. Hilb Rogal entered the Central Ohio market in 2001 with the purchase of Berwanger Overmyer Associates. The company, ranked last year as Central Ohio's largest independent…