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EU regulators to decide on US$30 billion Willis, Aon deal by Dec 21

EU regulators to decide on US$30 billion Willis, Aon deal by Dec 21

An office building with Aon logo is seen amidst the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, on Jun 3, 2020. (Photo: REUTERS/Loren Elliott)

BRUSSELS: Aon has sought EU antitrust approval for its US$30 billion bid for Willis Towers, with the EU watchdog setting a Dec 21 deadline for its decision, a filing on the European Commission website showed on Monday (Nov 16).

The deal to create the world's biggest insurance broker with more pricing power could draw intense regulatory scrutiny, according to analysts. The companies are the second and third largest brokers globally, after leader Marsh & McLennan Companies.

The Commission can either clear the deal with or without concessions after its preliminary review or it can open a four-month long investigation if it has serious concerns.

Aon dropped an earlier bid last year for Willis after media reports broke the news.

Source: Reuters

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