WTW
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The CEO said that his company was ‘wide open’ to absorbing additional assets to satisfy regulators’ concerns. -
Shares in AJ Gallagher and Willis Towers Watson held broadly stable after the announcement from the US Department of Justice.
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The investment bank’s analysts suggested that staff and clients may leave as a result of uncertainty, during a prolonged US lawsuit over the Aon-Willis mega merger.
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Inside P&C gives a blow-by-blow account of the regulator's antitrust complaint against the mega deal.
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The broking houses also said they "remain fully committed to the benefits of [their] proposed combination".
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The move from the US regulator represents the biggest threat to the mega-merger since it was announced in March last year.
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A recent spate of divestiture offers have reportedly failed to address fears around corporate broking business.
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The news follows the agreement to sell several assets to AJ Gallagher, including Willis Re.
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The US retirement disposals announced last week will be followed by two health unit sales as the parties seek regulatory sign-off.
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The new accounting framework is being brought in to replace current GAAP reporting measures.
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The broker has offered to sell its group pharma purchasing and claims audit services in a bid to get the green light for its Willis takeover.
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The deal is designed to assuage the Department of Justice’s concerns over the Aon-Willis merger.
