WTW

The US government reportedly has around 20 attorneys at work in case it decides to sue to block the deal.

The executive had previously been the head of third-party capital at Axis.

Brokers’ first-quarter performance was highly positive, but the real rewards are still to come.

Management should examine the relationship between company strategy, broader market cycles and short interest.

The Commerce Commission has delayed its decision for the third time.

The merging brokers have also agreed a two-year non-compete agreement on transferring Willis business.

The combination still needs sign-off from US, EC and other international authorities.

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

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.