Shareholders of insurance brokers Aon and Willis Towers Watson (WTW) have approved all of the proposals necessary to complete their previously announced combination, the firms announced.
Aon intends to combine with Willis in an all-stock deal valued at about US$30 billion that is expected to be completed in the first half of 2021, subject to regulatory approvals. The deal has an implied combined equity value of approximately US$80 billion.
Under the terms of the proposed deal, Aon’s shareholders will own 63% and WTW shareholders will own 37% of the combined company. Willis Towers Watson shareholders will receive 1.08 Aon shares in exchange for each Willis Towers Watson share they held immediately prior to the closing.
Aon and Willis are the second- and third-largest insurance brokers by revenue. If the deal is approved, the combined company, named Aon, will have more than US$20 billion in revenue. Aon reported US$11 billion in revenue with US$2.2 billion net income for 2019 compared to US$9 billion revenue and US$1.4 billion net income for Willis Towers Watson.
Full Content: Post Online
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC to Approve Exxon’s $64 Billion Deal with Pioneer Resources, Excludes
May 1, 2024 by
CPI
UK Competition Watchdog Raises Alarm Over Nvidia’s ARM Takeover
May 1, 2024 by
CPI
Sen. Klobuchar Urges Regulators to Probe Collusion in Health Care Pricing
May 1, 2024 by
CPI
Multiple States Join Tennessee’s Antitrust Lawsuit Against NCAA Over NIL Rules
May 1, 2024 by
CPI
NY AG Joins Suit Challenging NCAA’s Restrictions on Student Athlete NIL Rights
May 1, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI