Reuters exclusively reported that Aon is set to gain conditional EU antitrust approval for its $30 billion bid for Willis Towers Watson, clearing a key hurdle to becoming the world’s No. 1 insurance broker. Reuters sources said Aon will not have to offer additional concessions on top of a hefty package of assets to be sold off to address competition concerns. The sector’s biggest-ever deal comes as insurers struggle with rising claims and new challenges brought on by the COVID-19 pandemic and climate change.
Reuters reveals Aon’s $30 bln Willis deal set to win EU approval; market reacts
Following the Reuters report, Aon’s shares reversed losses and ended 1.9% up while Willis also trimmed losses and was 4% higher at the end of trade.