Emett & Chandler has agreed to be acquired.

Jardine Matheson Ltd., headquartered in Hong Kong, signed a definitive agreement to acquire the Los Angeles-based insurance brokerage--the nation’s 12th largest--subject to approval by Emett shareholders and regulatory bodies. The combined company will have annual revenues of $170 million, ranking as the world’s eighth largest insurance broker. The deal calls for Emett shareholders to receive $19 in cash for each of the 3,260,000 shares outstanding, which makes the transaction worth about $62 million.