DUBLIN:
Aon plc and Willis Towers Watson confirmed today that the European Commission announced conditional approval for the proposed $30 bilion combination of Aon and Willis Towers Watson.
"This is a major step that demonstrates continued progress toward obtaining regulatory clearances for the proposed combination. Both firms operate across broad, competitive areas of the economy and believe this approval affirms that our proposed combination will accelerate innovation on behalf of clients, creating more choice in an already dynamic and competitive marketplace," said both the firms.
Aon and Willis Towers Watson remain committed to the benefits of the combination and continue to work toward obtaining regulatory approval in all relevant jurisdictions.
The combination remains subject to the receipt of required regulatory approvals and clearances, including with respect to United States antitrust laws, as well as other customary closing conditions.
Earlier,the U.S. Department of Justice filed a civil antitrust lawsuit today to block Aon’s $30 billion proposed acquisition of Willis Towers Watson, a transaction that would bring together two of the “Big Three” global insurance brokers. As alleged in the complaint filed in the U.S. District Court for the District of Columbia, the merger threatens to eliminate competition, raise prices, and reduce innovation for American businesses, employers, and unions that rely on these important services.