Aon, Willis Towers Watson Shareholders Approve Merger

Shareholders of Aon and Willis Towers Watson (“WTW”) have approved all of the proposals necessary to complete their previously announced combination, the firms announced.

Aon intends to combine with WTW in an all-stock deal valued at approximately $30 billion that is expected to be completed in the first half of 2021 (subject to regulatory approvals). The deal has an implied combined equity value of approximately $80 billion.

Under the terms of the proposed deal, Aon’s shareholders will own 63% and WTW shareholders will own 37% of the combined company. WTW shareholders will receive 1.08 Aon shares in exchange for each WTW share they held immediately prior to the closing.

Aon and WTW are the second- and third-largest insurance brokers by revenue. If the deal is approved, the combined company, named Aon, will have more than $20 billion in revenue. Aon reported $11 billion in revenue with $2.2 billion in net income for 2019 compared to $9 billion in revenue and $1.4 billion in net income for WTW.

SOURCE:https://www.insurancejournal.com/news/international/2020/08/26/580445.htm
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