The replay will also be available approximately two hours after the conclusion of the call on the investor relations page of each company's website, www.aon.comand www.willistowerswatson.com. John . 1This statement should not be construed as a profit forecast or interpreted to mean that Willis Towers Watson, Aon UK or Aon Ireland's profits or earnings in the first full year following the Proposed Combination, or in any subsequent period, will necessarily match or be greater than or be less than those of Willis Towers Watson, Aon UK and/or Aon Ireland for the relevant preceding financial period or any other period. March 01, 2021 Last week, Willis's stock closed 3.1% below Aon's. Using the deal price of 1.08 Aon shares per Willis share, the current prices reflect a 10.3% discount on Willis relative to the price implied by the offer, a figure often referred to as the merger arbitrage spread (arb spread). Other unknown or unpredictable factors could also cause actual results and developments to differ materially from those expressed or implied by the forward-looking statements. Aon - WTW merger review extended by Australian regulator See Aon UK's Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 14, 2020, and additional documents filed by Aon UK and/or Aon Ireland with the SEC, the contents of which are not incorporated by reference into, nor do they form part of this communication, for a further discussion of these and other risks and uncertainties applicable to Aon UK's and Aon Ireland's businesses. Attorney General Merrick B. Garland's Statement on Aon and Willis The deal had a value of about $30 billion. DUBLIN, July 26, 2021 /PRNewswire/ -- Aon plc (NYSE: AON) and Willis Towers Watson (NASDAQ: WLTW) announced today that the firms have agreed to terminate their business combination agreement and end litigation with the U.S. Department of Justice (DOJ). Sign up for News Alertshere. Forward-looking statements can often, but not always, be identified by the use of words such as "plans," "expects," "is subject to," "budget," "scheduled," "estimates," "forecasts," "potential," "continue," "intends," "anticipates," "believes," or variations of such words, and statements that certain actions, events or results "may," "could," "should," "would," "might" or "will" be taken, occur or be achieved. Aon and Willis abort $30bn merger in the teeth of DoJ opposition Our respect for Willis Towers Watson and the team members we've come to know through this process has only grown. Aon-Willis merger arb spread in focus as it breaches 10% - Inside P&C Additional information about Aon UK's directors and executive officers is contained in Aon UK's Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 14, 2020, and its Proxy Statement on Schedule 14A, dated and filed with the SEC on April 26, 2019. 4 "The combination of Willis Towers Watson and Aon is a natural next step in our journey to better serve our clients in the areas of people . Aon today confirms that it does not intend to pursue this business combination. Aon anticipates that the transaction will provide annual pre-tax synergies and other cost reductions of $800 million by the third full year of combination, thereby allowing the firm to continue significant investment in innovation and growth. It's a message that Aon CEO Greg Case has been . Aon-Willis Merger Would Dominate Outsourced Investment Services DUBLIN, Jan. 27, 2021 /PRNewswire/ -- Aon plc (NYSE: AON) and Willis Towers Watson plc (NASDAQ: WLTW) today announced the future leadership team for the firm that will be effective upon the completion of the proposed combination of Aon and Willis Towers Watson.Guided by a one firm mindset, the new leadership team will come together following the close of the combination to deliver new sources . 5Aon anticipates the cost to achieve expected synergies will be $1.4 billion, excluding transaction costs of approximately $200 million and retention costs of up to $400 million. The estimates should therefore be read in conjunction with the bases and assumptions for these synergy numbers, which are set out in Appendix I of the Rule 2.5 Announcement made on March 9th, 2020, along with the reports accompanying such statements in Appendix 4 and Appendix 5 to the Rule 2.5 Announcement. Income was down from $398 million, $1.70 per share, a year ago, but revenue rose by. On 9 March 2020, Aon announced its merger with Willis Towers Watson for nearly $30 billion in an all-stock deal that creates the world's largest insurance broker. We appreciate and deeply respect all the Aon colleagues we got to know through this process.". Eversheds Sutherland > Dublin > Ireland | The Legal 500 law firm profiles View original content to download multimedia:https://www.prnewswire.com/news-releases/aon-and-willis-towers-watson-mutually-agree-to-terminate-combination-agreement-301340911.html, Aon and Willis Towers Watson Mutually Agree to Terminate Combination Agreement, Human Resources Business Process Outsourcing, Investor_Relations@willistowerswatson.com, https://www.prnewswire.com/news-releases/aon-and-willis-towers-watson-mutually-agree-to-terminate-combination-agreement-301340911.html. See Legal Notice for further information regarding such statements and additional disclaimers with respect to the materials and sites that you may access through the Investors section of our Web site. The combined firm is committed to maintaining long-term financial goals of mid-single digit or greater organic revenue growth and double-digit free cash flow growth; and is expected to maintain Aon's current credit rating. The factors identified above are not exhaustive. "The DOJ position overlooks that our complementary businesses operate across broad, competitive areas of the economy. While Aon and Willis Were Focused on Merger, Marsh Attracted Producer Accordingly, you should not place undue reliance on forward-looking statements, which speak only as of the date on which they are made. Aon earned $379 million, $1.66 per fully diluted share, on revenue of $2.88 billion during the second quarter. Although management believe that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to be correct. U.S. sues to stop $30 billion merger of Aon and Willis Towers Watson - CNBC Aon may update, amend, supplement or otherwise alter the information contained in any such materials by subsequent presentations, reports, filings, or other means without notice. Gallagher has agreed to purchase a group of businesses from Willis Towers Watson that includes: The transaction with Gallagher is contingent on the completion of the pending Aon and Willis Towers Watson combination, as well as other customary closing conditions. Any vote in respect of resolutions to be proposed at the Willis Towers Watson shareholders meetings to approve the proposed combination, the Scheme or related matters, or other responses in relation to the proposed combination, should be made only on the basis of the information contained in the joint proxy statement (including the Scheme documentation). Aon and Willis Towers Watson Announce Shareholder Approval Aon will maintain operating headquarters in London. This communication should be read in conjunction with, and is subject to, the full text of the Rule 2.5 Announcement (including its Appendices), which shall take precedence in the event of any inconsistency. For more information about Willis Towers Watson, see www.willistowerswatson.com. All subsequent written and oral forward-looking statements attributable to Aon, WTW and/or any person acting on behalf of any of them are expressly qualified in their entirety by the foregoing paragraphs, and the information contained on any websites referenced in this communication is not incorporated by reference into this communication. In particular, a person will be treated as having an interest by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities. The proposed $30 billion merger of insurance brokerage giants Aon Plc and Willis Towers Watson Plc would create the world's largest outsourced investment management firm.. Get this Chicago Tribune page for free from Thursday, May 22, 1986 wiciuiiu iiiuuiic, iiiuiSuay, iviay cl, idoo Almanac. To the best of the knowledge and belief of the directors of Aon UK (who have taken all reasonable care to ensure such is the case), the information contained in this document for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information. Aon expressly disclaims any obligation to review, update or correct these materials after the date thereof. Neither Aon nor WTW is under, and each expressly disclaims, any obligation to update or alter any forward-looking statement that it may make from time to time, whether as a result of new information, future events or otherwise. Gallagher is a global leader in insurance, risk management and consulting services generating more than $6 billion in 2020 revenue. ", "Our team's resilience and commitment are a source of pride and confidence. All statements other than statements of historical facts that address activities, events or developments that Aon and/or WTW expects or anticipates may occur in the future, including such things as its or their outlook, future capital expenditures, growth in commissions and fees, changes to the composition or level of its or their revenues, cash flow and liquidity, expected tax rates, business strategies, competitive strengths, goals, the benefits of new initiatives, growth of its or their business and operations, plans, references to future successes, and expectations with respect to the timing, closing and benefits of the Combination, including divestitures made in connection with the Combination, are forward-looking statements. Aon and Willis Tower had been betting on the merger to generate annual cost savings of $800 million and boost revenue through the sale of the new products, in areas such as intellectual. These businesses will be divested for a total consideration of $3.57 billion. Aon Acquisition Antitrust Fight Spotlights 'Big Customer' Market Other unknown or unpredictable factors could also cause actual results and developments to differ materially from those expressed or implied by the forward-looking statements. The defensive tackle announced on Friday evening he would be taking his talents to Louisiana Tech. To the best of the knowledge and belief of the directors of Willis Towers Watson (who have taken all reasonable care to ensure such is the case), the information contained in this document for which they respectively accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information. The agreement resolves questions raised by the European Commission and is intended to address certain questions raised by regulators in certain other jurisdictions. Shareholders of both firms approved the merger in August. This communication contains certain statements that are forward-looking, as that term is defined in the Private Securities Litigation Reform Act of 1995. Aon and Willis Towers Watson announce the future leadership team Market-leading rankings and editorial commentary - see the top law firms & lawyers for Competition and antitrust in Mexico Safe Harbor Statement Any or all of Aon's and WTW's forward-looking statements may turn out to be inaccurate, and there are no guarantees about Aon's or WTW's performance. Aon plc The company is headquartered in Rolling Meadows, Ill. and has more than 34,000 employees in 56 countries. Guided by a one firm mindset, the new leadership team will come together following the close of the combination to deliver new . I am a Manager at Flint Global (London). See Willis Towers Watson's Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 26, 2020, and additional documents filed by Willis Towers Watson with the SEC, the contents of which are not incorporated by reference into, nor do they form part of, this Announcement, for a further discussion of these and other risks and uncertainties applicable to Willis Towers Watson 's businesses. Further details in respect of the proposed combination of Aon and Willis Towers Watson are provided in the announcement published by Aon on March 9, 2020 in accordance with Rule 2.5 of the Irish Takeover Rules (the "Rule 2.5 Announcement") and capitalized terms used but not defined in this communication shall have the meaning given to them in the Rule 2.5 Announcement. Retention costs are subject to Irish Takeover Panel approval. Such factors include, but are not limited to, the possibility that the proposed combination will not be consummated, failure to obtain necessary shareholder or regulatory approvals or to satisfy any of the other conditions to the proposed combination, adverse effects on the market price of Aon UK, Aon Ireland and/or Willis Towers Watson securities and on Aon UK's, Aon Ireland's and/or Willis Towers Watson's operating results for any reason, including, without limitation, because of the failure to consummate the proposed combination, the failure to realize the expected benefits of the proposed combination (including anticipated revenue and growth synergies), the failure to effectively integrate the combined companies following consummation of the proposed combination, negative effects of an announcement of the proposed combination, changes in global, political, economic, business, competitive, market and regulatory forces, future exchange and interest rates, changes in tax laws, regulations, rates and policies, future business acquisitions or disposals, or any announcement relating to the proposed consummation of or failure to consummate the proposed combination on the market price of Aon UK, Aon Ireland and/or Willis Towers Watson securities, significant transaction and integration costs or difficulties in connection with the proposed combination and/or unknown or inestimable liabilities, potential litigation associated with the proposed combination, the potential impact of the announcement or consummation of the proposed combination on relationships, including with suppliers, customers, employees and regulators, and general economic, business and political conditions (including any epidemic, pandemic or disease outbreak) that affect the combined companies following the consummation of the proposed combination. Please watch the NASA video highlighted near the end of Liked by Julia Hodges Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to be correct. We are confident that the combination would have accelerated our shared ability to innovate on behalf of clients, but the inability to secure an expedited resolution of the litigation brought us to this point. Deal Watch: For Aon, Willis Towers Watson and 6 Law Firms, a $30B Chicago Tribune from Chicago, Illinois on May 22, 1986 56 Willis Towers Watson has more than 45,000 employees and services clients in more than 140 countries. Aon, Willis $30B merger canceled after Justice Department suit "Committed," he tweeted, along with photos of him in Louisiana Tech gear. Decision Follows DOJ Lawsuit to Prevent Harmful Consolidation and Preserve Competition Attorney General Merrick B. Garland today released the following statement on Aon plc's and Willis Towers Watson's announcement that the firms agreed to terminate their planned $30 billion merger. Willis Towers Watson has more than 45,000 employees and services clients in more than 140 countries. The synergies and other cost reductions have been reported on in accordance with Rule 19.3(b) of the Irish Takeover Rules by (i) Ernst & Young and (ii) Credit Suisse International. The combined company, to be named Aon, will be a premier, technology-enabled global professional services firm focused on the areas of risk, retirement and health, the firms say. Accordingly, you should not place undue reliance on forward-looking statements, which speak only as of the date on which they are made. The transaction is subject to the approval of the shareholders of both Aon Ireland and Willis Towers Watson, as well as other customary closing conditions, including required regulatory approvals. Aon-Willis collapse: What now for Willis Re? - Insurance Insider Jenna Kourafas - Mergers & Acquisitions Consultant - West Monroe | LinkedIn I believe big change is possible.<br><br>Without ego I bridge gaps between strategy, people, techology and data. 3There are various material assumptions underlying the synergies and other cost reduction statements in this document which may result in the synergies and other cost reductions being materially greater or less than estimated. "Going forward, our focus remains steadfast on our colleagues, our clients and our shareholders. Critics worry the giant companies taking over outsourced responsibilities are too big to effectively manage individual investors and that many employers are too small to adequately keep those firms in check. Aon Stock Looks Better Now That It Is Out From Under the WLTW Merger Forward-looking statements can often, but not always, be identified by the use of words such as "plans," "expects," "is subject to," "budget," "scheduled," "estimates," "forecasts," "looking forward," "potential," "probably," "continue," "intends," "anticipates," "believes," or variations of such words, and statements that certain actions, events or results "may," "could," "should," "would," "might" or "will" be taken, occur or be achieved. Accretion to adjusted EPS, reflecting the synergy potential of the combination, consistent with initially announced accretion projections in year three and over the long term. LONDON, U.K. - Aon plc (NYSE:AON) and Willis Towers Watson (NASDAQ: WLTW) today announced a definitive agreement to combine in an all-stock transaction (the "Proposed Combination") with an implied combined equity value of approximately $80 billion. Aon Willis Towers Watson Agents & Brokers Mergers & Acquisitions John Haley (left) and Carl Hess Willis Towers Watson PLC on Thursday outlined a bold plan to deliver $10 billion+ in revenues. We built on our track record of innovation, continued to deliver industry-leading performance and progress against our key financial metrics and move forward with the strongest colleague engagement and client feedback scores in over a decade.
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