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  2. Called off a planned $30 billion merger

    Two of the world’s largest insurance brokers, Aon and Willis Towers Watson, announced on Monday that they had called off a planned $30 billion merger, just a little more than a month after the Department of Justice sued to block the union. The announcement was a victory for the Biden administration.
    www.nytimes.com/2021/07/26/business/aon-willis-towers-watson-merger.html
    www.nytimes.com/2021/07/26/business/aon-willis-towers-watson-merger.html
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    What happened between Aon plc & Willis Towers Watson?Aon plc and Willis Towers Watson announced that the firms have agreed to terminate their $30 billion business combination agreement and end litigation with the U.S. Department of Justice (DOJ). The proposed combination was first announced on March 9, 2020 and would have created the largest insurance broker.
    Was Aon's $30 billion acquisition of Willis Towers Watson anticompetitive?The Department of Justice was investigating the merger on antitrust grounds. Aon's $30 billion acquisition of Willis Towers Watson was challenged by U.S. regulators who argued that the deal to create the world's largest insurance brokerage was anticompetitive.
    Did Aon and Willis Towers Watson end the Justice Department litigation?On Monday, Aon and Willis Towers Watson said they had decided to end the Justice Department’s litigation rather than face a lengthy court battle. “We reached an impasse with the U.S. Department of Justice,” Aon’s chief executive, Greg Case, said in a statement.
    How will Aon & Willis Towers Watson integrate?Aon and Willis Towers Watson continue to progress with their integration planning, most recently highlighted by the announcement of the future leadership team that, following the close of the combination, will collaborate to deliver new sources of value to clients and create new opportunities for colleagues.
     
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