Insurance broker Aon has offered to sell assets in several EU countries and the reinsurance unit of takeover target Willis Towers Watson to gain EU antitrust approval for its $30 billion acquisition bid, a person familiar with the matter said on Monday.
By Reuters Staff
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FILE PHOTO: An office building with the Aon logo is seen amid the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020. REUTERS/Loren Elliott/File Photo
BRUSSELS (Reuters) - European Union antitrust regulators have extended until July 27 the deadline for their decision on Aon’s $30 billion bid for rival Willis Towers Watson, a European Commission filing showed on Wednesday.
Aon, which announced the deal a year ago to create the world’s largest insurance broker ahead of world No. 1 Marsh & McLennan Companies Inc, offered last Friday to sell assets in five European nations to resolve EU competition concerns.
Clearcover has raised $200 million in fresh capital as part of a late-stage financing round led by Eldridge, the investment firm helmed by Los Angeles Dodgers owner Todd Boehly, the digital car-insurance startup will announce on Tuesday.
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FILE PHOTO: FILE PHOTO: An office building with the Aon logo is seen amid the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020. REUTERS/Loren Elliott/File Photo/File Photo
BRUSSELS (Reuters) - Insurance broker Aon’s offer to sell assets in five EU countries and takeover target Willis Towers Watson’s reinsurance arm may not be enough to address EU competition concerns, people familiar with the matter said on Tuesday.
Aon is looking to the acquisition to create the world’s largest insurance broker ahead of Marsh & McLennan Companies Inc as the industry grapples with rising claims and new challenges from the COVID-19 pandemic and climate change.
Insurance broker Aon has offered concessions to gain EU antitrust approval for its $30 billion bid for rival Willis Towers Watson, a European Commission filing showed on Monday.