9 March 2020Services

Aon revives merger deal with Willis Towers Watson

Aon will merge with Willis Towers Watson in an all-stock transaction worth approximately $80 billion.

The deal will see each Willis Towers Watson share exchanged for 1.08 shares of Aon at a fixed exchange ratio. On completion Aon shareholders will own approximately 63 percent of the combined group, which will operate under the Aon brand. Willis Towers Watson shareholders will own the remaining 37 percent on a fully diluted basis.

The deal is expected to close in the first half of 2021.

Greg Case, Aon’s CEO, will lead the combined company, along with Christa Davies, its CFO. John Haley, CEO of Willis Towers Watson, will serve as executive chairman, focusing on growth and innovation strategy.

Aon and Willis Towers Watson will both contribute board members to the combined company’s board of directors.

The news comes a year after Aon indicated it was no longer looking for a combination with its rival insurance broker.

The deal remains subject to regulatory and shareholder approvals and other customary closing conditions.


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