Gallagher divestment deal aborted after WTW/Aon merger breaks down
Gallagher had been set to buy £3.6bn of WTW assets including Willis Re as part of Aon/WTW divestment plans ahead of their proposed combination.
Gallagher has confirmed that its deal to buy certain Willis Towers Watson (WTW) operations for $3.57bn (£3.53bn) has been called off.
The agreement was first announced on 12 May and at the time it was described as an “important step” toward closing Aon’s proposed $30bn deal for WTW.
However, the Aon/WTW merger collapsed yesterday after the two businesses “reached an impasse with the US Department of Justice”, which launched a civil antitrust lawsuit to block the deal in June.
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