Aon and Willis Towers Watson merger seals shareholder approval

Aon and Willis Towers Watson have announced that their respective shareholders have approved the merger of the two businesses at their extraordinary general meetings and at the special meeting of Willis Towers Watson shareholders ordered by the High Court of Ireland.

The merger, which remains subject to customary regulatory and other closing conditions, is expected to close in the first half of 2021.

Upon the closing of the deal, Willis Towers Watson shareholders will receive 1.08 Aon shares in exchange for each Willis Towers Watson share they held immediately prior to the closing.

Aon chief executive Greg Case said the deal had become even more important given the developments of the Covid-19 pandemic.

“On behalf of Aon’s Board of Directors and executive team, I would like to thank our shareholders for their overwhelming support of the proposed combination with Willis Towers Watson,” he said. “Our combination, which will accelerate innovation and strengthen our capability to provide more relevant solutions for clients, has only become more important through the COVID-19 pandemic.

“The events of 2020 are illustrative of the exact type of transformative long-tail risk our new organization will be best positioned to address, creating significant value for clients, colleagues, and shareholders.”

John Haley, chief executive of Willis Towers Watson, added: “Today marks an important milestone towards completing the transaction. The vote reflects our shareholders’ confidence in this next step of our journey.

”We are pleased with the outcome of today’s meetings and we thank all of our shareholders for their support of this combination that will bring together our complementary strengths and expand our capacity to address unmet client needs.”