Aon, Willis scrap $30 bln merger over monopoly concerns, delay
An office building with the Aon logo is seen amid the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020. REUTERS/Loren Elliott
July 26 (Reuters) – Aon Plc (AON.N) and Willis Towers Watson Plc on Monday called off a $30 billion merger that would have created the world’s largest insurance broker, saying objections by U.S. regulators created unacceptable delay and uncertainty.
The decision was hailed by some as an early victory for the Biden administration’s Department of Justice, which sued last month to block it. But it stood at odds with European regulators who recently approved the deal, on condition the companies sell assets – deals now halted that will largely affect the proposed buyer, broker Arthur J. Gallagher & Co (AJG.N). read more
Combining Aon and Willis, which rank second and third in revenue behind Marsh & McLennan Cos Inc(MMC.N), would have…
