Willis Group Holdings Ltd. (WSH) announced that the U.S. Federal Trade Commission has cleared review of Willis' pending acquisition of Hilb Rogal & Hobbs or "HRH" under the Hart-Scott-Rodino Antitrust Improvements Act by granting early termination of the waiting period.
On June 8, 2008, Willis announced that it entered into a definitive agreement to combine both companies. The transaction is remains subject to the satisfaction of other conditions, including approval by HRH's shareholders and other required regulatory clearances.
The transaction is expected to close in the fourth quarter of 2008.
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