Announced
Financials
Tags
Acquisition
Insurance Brokers
Majority
insurance brokerage
Single Bidder
Friendly
United Kingdom
advisory services
Public
Domestic
Merger
Failed
Synopsis
Aon, a large global professional services firm that sells a range of financial risk-mitigation products, including insurance, pension administration, and health-insurance plans, terminated its deal to acquire Willis Towers Watson, an Irish-domiciled global multinational risk management, insurance brokerage and advisory company, for $30bn. The companies were unable to overcome the Department of Justice’s opposition to the merger. "Despite regulatory momentum around the world, including the recent approval of our combination by the European Commission, we reached an impasse with the US Department of Justice. The DOJ position overlooks that our complementary businesses operate across broad, competitive areas of the economy. We are confident that the combination would have accelerated our shared ability to innovate on behalf of clients, but the inability to secure an expedited resolution of the litigation brought us to this point," Greg Case, Aon CEO.
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