European Commission Questions Aon’s Acquisition of Willis Towers Watson
Posted on 12/22/2020
The European Commission (EC) has initiated a review of Aon plc’s proposed US$ 30 billion bid for Willis Towers Watson. Aon believes it is on the path to close the deal in the first half of 2021. The European Commission has until May 10, 2021, to make a decision.
“As stated previously, Aon’s and Willis Towers Watson’s businesses are complementary, operating across broad, very competitive areas of the economy, and Aon remains confident of a positive outcome without any divestitures,” said Aon in a statement.
“Aon expected a thorough review of this combination and will continue to work closely with all the relevant regulators, including the EC. The firm looks forward to continuing its dialogue with the EC throughout the Phase II review process.”
“We have opened an in-depth investigation to assess carefully whether the transaction could lead to negative effects for competition, less choice and higher prices for European customers in the commercial risk brokerage market,” commented EC Executive Vice-President Margrethe Vestager, who is responsible for competition policy, in a statement.