March 6, 2019 11:30
The brokerage firm of (re)insurance , Aon has officially announced today that it has waived the purchase of the third-largest broker Willis Towers Watson. The firm argued that it had to disclose its intentions very early in its decision-making process because of speculation and media regulation in irish, to which Willis Towers Watson is subject.
“In accordance with the stated objective of Aon on the return on invested capital, the company regularly evaluates various potential opportunities within the sector and nearby. Aon had considered that possibility in relation to Willis Towers Watson “, said the company by way of press release.
According to the Regulation 2.8 of the rules of takeover of ireland (Irish Takeover Rules), any negotiation must be publicly disclosed at the beginning of the offering period, or when the decision not to pursue the offer period is taken.
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Yesterday, Tuesday 5 march, Aon said it evaluated the possibility of consolidating the two companies, fully in shares. Aon said while she was in the “preliminary stages” of the process and ” that there was no certainty that a transaction will take place nor as to the form or conditions in which a transaction could be pursued “.
According to the media british Intelligent Insurer, the value of the shares of Willis Towers Watson has increased by 8 % after the first rumors were published. The transaction would have made Aon the largest broker in the world, surpassing its rival , Marsh & McLennan.