Aon Center
(Bloomberg) — With a new appetite for stepped-up antitrust enforcement sweeping Washington, big deals are already getting harder to do.
Aon Plc’s decision on Monday to abandon a $30 billion takeover of insurance brokerage Willis Towers Watson Plc after Justice Department pushback is the latest signal that transactions that consolidate industries could run into trouble.
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The Justice Department in a statement said that the deal would have consolidated the insurance brokering industry from three big competitors to two.
“This is a victory for competition and for American businesses, and ultimately, for their customers, employees and retirees across the country,” Attorney General Merrick B. Garland said in a statement.