Willis to merge with Towers Watson
The $18bn transaction has been approved by directors from each company.
Willis is set to merge with Towers Watson in a deal valued at around $18bn (£11.4bn) in what Willis is describing as a "merger of equals".
The transaction has been unanimously approved by the board of directors of each company and the combined company will be named Willis Towers Watson.
Upon completion of the merger Willis shareholders will own approximately 50.1% and Towers Watson shareholders will own approximately 49.9% of the combined company on a fully diluted basis.
The team-up is set to
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