The proposed merger of Aon and Willis Towers Watson (WTW) has been terminated.
Both firms say they have agreed to terminate their business combination agreement and end litigation with the U.S. Department of Justice (DOJ). The proposed combination was first announced on March 9, 2020.
The DOJ had filed a civil antitrust lawsuit to block Aon’s proposed $30 billion acquisition of WTW, a transaction that would have brought together two of the “Big Three” global insurance brokers. The largest national insurance broker currently is Marsh McLennan, which owns Mercer, followed by Aon and WTW.
In connection with the termination of the merger agreement, Aon will pay a $1 billion termination fee to Willis Towers Watson.
