EU Conditionally Approves Aon - Willis Towers Watson Merger

Aon plc (AON) and Willis Towers Watson (WLTW) confirmed that the European Commission conditionally approved the proposed combination of the companies. The approval satisfies a significant condition for the completion of the proposed merger.

Last month, the U.S. Department of Justice filed a civil antitrust lawsuit in the U.S. District Court for the District of Columbia to block Aon's $30 billion proposed acquisition of Willis Towers Watson, alleging that the deal could eliminate competition, raise prices and reduce innovation for U.S. businesses.

Last year, Aon and Willis Towers Watson agreed to combine in an all-stock deal with an implied combined equity value of approximately $80 billion. Upon completion, Aon shareholders would own approximately 63% and Willis Towers Watson shareholders will own approximately 37% of the combined company. Closing of the deal was anticipated in the first half of 2021.

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