Aon has confirmed that it is in the “early stages” of considering an all-share business acquisition with rival Willis Towers Watson (WTW).
In a statement, Aon said: "The company confirms that it is in the early stages of considering an all-share business combination with Willis Towers Watson."
Aon emphasized that the potential transaction is at a "preliminary stage" and "there can be no certainty" that any transaction will take place nor as to the form or terms on which any transaction might be pursued.
The company highlighted the media speculation around the acquisition in its statement. There were several reports yesterday, 5 March, regarding the deal. Bloomberg reported that Aon was considering a US$24bn bid for WTW, which saw WTW's shares reach an all-time high.
According to data compiled by Bloomberg, if Aon does buy WTW, then it could overtake Marsh & McLennan (Marsh) as the world's largest brokerage firm by revenue. However, last year, Marsh purchased JLTfor US$5.6bn.
WTW was formed in 2016 through Willis Group Holdings US$8.9bn acquisition of the consultancy firm Towers Watson.
Aon stated that a further announcement will be made in due course.
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