Insurance brokerage Aon is offering concessions to gain European Union antitrust approval for its US$30 billion bid to acquire Willis Towers Watson, as it was informed by foreign media April 13 referring to the European Commission filing.
The sector’s biggest-ever deal would create the world’s largest insurance broker. The deal was made a year ago, and Aon submitted its package to the EU competition regulator April 09.
The commission did not disclose details of the concessions Aon offered. It will consider the deal with competitors before deciding whether to approve the deal, block it, or seek additional concessions. The commission set a July 12 deadline for its decision.
Among the commission’s demands is the sale of the Willis reinsurance business which was rejected by Aon. Aon may also be pressured to sell a business that provides consulting and administration services on employee retirement and health plans
