Willis Towers Watson
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The transaction accelerates Gallagher’s evolution into a big global broker and risk management consultant.
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The $3.57bn side deal is contingent on the closing of the bigger merger, which itself needs approval from regulators including the European Commission and Department of Justice.
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Despite the sizable divestitures at a painful price, the deal maintains its appeal across most strategic and financial aspects.
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The AJG CEO vowed to invest in Willis Re assets while stressing the quality and security of the team.
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The deal is designed to address antitrust concerns to smooth the way for the mega merger to close.
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Aon and Willis have been in talks with Gallagher over a sale of assets the broking houses must make to gain approval of their pending merger from antitrust regulators.
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The report says a final decision on the structure of the deal has yet to be made.
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The Capitol Forum says EU competition chief Margrethe Vestager is on board with the remedies.
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The deal could be signed later this week or at the weekend, sources said.
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Although this period’s short-interest shift was muted, the next update will likely show greater movement as Q1 is digested.
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The yardstick will allow insurers and financial institutions to assess companies’ transition plans against the 2015 Paris Agreement.
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The regulator had previously set a 27 July deadline after the merger partners offered divestments to secure regulatory approval.
