- July 26, 2021
- Posted by: Stratford Team
- Category: Business
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 deal, announced in March 2020, had already addressed antitrust concerns in Europe and elsewhere but hit a major roadblock last month when the U.S. Department of Justice sued to block it, arguing it would reduce competition and lead to higher prices. read more
The companies said they would end their current litigation with the U.S. Department of Justice (DOJ), and Aon would pay $1 billion in termination fee to Willis. The timing and financial impact of the payment was not immediately clear. Aon is due to…
