Aon

With the planned disposal of a further $240mn of Ebitda, the parties are showing their commitment to closing the overall deal.

Competition is intensifying, with increased London market appetite one of the drivers.

Berkshire Hathaway also owns around 5.2 million shares in Marsh McLennan, having added an additional 1.8 million shares last quarter.

The second deal within a week to placate European regulators involves 350 staff and five offices.

The transaction accelerates Gallagher’s evolution into a big global broker and risk management consultant.

The $3.57bn side deal is contingent on the closing of the bigger merger, which itself needs approval from regulators including the European Commission and Department of Justice.

Despite the sizable divestitures at a painful price, the deal maintains its appeal across most strategic and financial aspects.

The AJG CEO vowed to invest in Willis Re assets while stressing the quality and security of the team.

The deal is designed to address antitrust concerns to smooth the way for the mega merger to close.

A high proportion of the more than $3.5bn economic losses caused by April severe weather will be insured, the broker said.

Aon and Willis have been in talks with Gallagher over a sale of assets the broking houses must make to gain approval of their pending merger from antitrust regulators.

The report says a final decision on the structure of the deal has yet to be made.