Aon Plc AON, -0.01% and Willis Towers Watson WLTW, +0.03% said Monday they have reached a mutual agreement to terminate their merger deal and end litigation with the U.S. Justice Department. The deal was first announced in March of 2020.
"Despite regulatory momentum around the world, including the recent approval of our combination by the European Commission, we reached an impasse with the U.S. Department of Justice," said Aon CEO Greg Case. Aon will pay Willis Towers a termination fee of $1 billion. Both companies will provide further financial updates and outlook with their second-quarter earnings. Aon is due to report on July 30 and Willis Towers on Aug. 3. Aon shares were up 2.
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Aon, Willis Towers Watson Scrap Roughly $30 Billion MergerAon and Willis Towers abandoned their $30 billion insurance brokerage merger after the Justice Department sued to block the deal Small is beautiful 🙂 Good morning - a VOICE NARRATIVE CDCDirector NIH FauciLiedPeopleDied 'debating' more facemasks HunterBiden smoking crack on video & POTUS proclaiming 'my butts been wiped' WTF - the 🌎 is going to hell in a hand basket ewarren DNC jrpsaki ClimateEmergency GOP MSNBC Good. I’m yet to hear of an insured who thinks this was a good idea
Source: WSJ - 🏆 98. / 63 Read more »
Aon, Willis Towers Watson Scrap Roughly $30 Billion MergerAon and Willis Towers abandoned their $30 billion insurance brokerage merger after the Justice Department sued to block the deal Small is beautiful 🙂 Good morning - a VOICE NARRATIVE CDCDirector NIH FauciLiedPeopleDied 'debating' more facemasks HunterBiden smoking crack on video & POTUS proclaiming 'my butts been wiped' WTF - the 🌎 is going to hell in a hand basket ewarren DNC jrpsaki ClimateEmergency GOP MSNBC Good. I’m yet to hear of an insured who thinks this was a good idea
Source: WSJ - 🏆 98. / 63 Read more »