Canada’s competition regulator is reviewing the proposed merger of global brokerages Aon and Willis Towers Watson, but the federal government is not saying whether it has actually received any complaints.
The US$30-billion deal, originally announced in March 2020, was approved by shareholders of Aon and Willis Towers Watson in August 2020. If completed, the deal would form the world’s largest commercial property and casualty insurance brokerage. Marsh & McLennan is the biggest brokerage worldwide at the moment, thanks in part to Marsh acquiring Jardine Lloyd Thompson in 2018.
Willis Towers Watson and Aon cannot actually operate together until the deal closes, Aon CEO Greg Case said this past February during a conference call discussing Aon’s 2020 financial results.
The United States justice department asked a US court in mid-June to block the deal. Both Aon and Willis are headquartered in Dublin, with major executive offices in London. Both are traded on the New York Stock Exchange. The deal is still conditional upon approval from competition regulators in several jurisdictions, including Canada.
A spokesperson for Canada’s Competition Bureau confirmed last week to Canadian Underwriter that it is reviewing Aon’s proposed acquisition of Willis Towers Watson.
“Under the Competition Act, mergers of all sizes and in all sectors of the economy are subject to review by the Commissioner of Competition to determine whether they will likely result in a substantial lessening or prevention of competition in any market in Canada,” the spokesperson told Canadian Underwriter.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Urged to Enforce Rarely Used Antitrust Law Against Retail Giants
Mar 28, 2024 by
CPI
UK’s Fingleton Bolsters Team with New Additions
Mar 28, 2024 by
CPI
Britain’s Competition Regulator Clears Aviva’s Acquisition of AIG Life UK
Mar 28, 2024 by
CPI
White House Implements New AI Safeguards to Protect Rights and Safety
Mar 28, 2024 by
CPI
Denver Court Sets August Date for Kroger-Albertsons Merger Showdown
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI