Aon expected to get conditional WTW acquisition approval from EC: Reuters

Aon expected to get conditional WTW acquisition approval from EC: Reuters

Things move quickly in acquisitions and mergers and its now been reported by Reuters that Aon is likely to get conditional approval from the European Commission for its acquisition of Willis Towers Watson (WTW), without a statement of objections being published and with only a few tweaks to its proposed package of concessions.Reuters sources stated that sources informed it that the bundle of concessions provided to the European Commission previously this month are likely to prove appropriate, although also stating that some tweaks to the remedy plan have been requested by the EC antitrust regulators.
As we explained earlier, feedback had been sought from competitors and customers of the insurance coverage and reinsurance broking giants by the EC, but it would appear no major objections have actually been raised.
Reuters reports that aside from a few tweaks, no additional concessions are likely to be requested for, its sources said, while the threat of a statement of objections charge sheet being published now aims to have actually been avoided, the publisher explained.
Our sources stated Aon had been eager to prevent the publication of a statement of objections, as that can lead to the disclosure of much more information than the broker may have been comfy with.
The remedy package of concessions provided is extensively said to have included Willis Towers Watsons reinsurance broking unit Willis Re.
It promises that Aons concessions use to the EC was adequately large to mitigate issues of the regulator and as it didnt get particularly negative feedback in market screening, the next action would be to continue towards an approval, maybe with some terms that indicate tweaks are in order.
The EC does not require to make its decision public till July 27th 2021, as it had actually pressed back its deadline for picking the Aon and WTW merger.
If the choice is currently close to being made, it appears likely this could come well in advance of this date.
As we d formerly recommended, the reality the EC bundle of concessions was viewed as quite big may have made the demands from other antitrust regulators, such as the United States Department of Justice less substantial, as the EC plan might respond to a few of the questions asked by these other deliberating territories as well.
Approval from the EC might be the most considerable action on the path to Aon getting worldwide approval to proceed with its combination with Willis Towers Watson, implying perhaps the largest hurdle is now close to being cleared, if Reuters sourced details is precise.
Likewise check out:
— Aon in proactive deal to US DOJ on Willis Towers Watson merger: Report.
— EC extends Aon– Willis Towers Watson merger due date again.
— If Aon/ WTW causes divestitures, AJG seen as “finest fit” for Willis Re: KBW.
— Aon– Willis Towers Watson divestiture reports expand to United States & & Bermuda.
— Aon– Willis Towers Watson merger evaluated by Singapore competitors authority.
— Aon & & Willis Towers Watson merger might deal with EC declaration of objection: Reuters.
— Aon & & Willis Towers Watson merger to “substantially decrease competition”.
— Aon & & Willis Towers Watson reveal leadership of combined business.
— Aon & & WTW point out alt. capital, disintermediation & & marketplaces in defence of merger.
— Willis Re divestment seen needed for Aon– WTW merger to finish.
— EC requests feedback on sale of Aon/ WTW assets, as MMC gains talent.
— Aon– Willis Towers Watson merger deadline pushed back by EC.
— EC examines Aon/ WTW offer, mentions competitors “issues”.
— Aon + WTW to “extend proven model of catastrophe bonds”– CEOs Case & & Haley.– Aon & Willis Towers Watson to combine.

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