Benzinga | Aug 26, 2020 11:38AM EDT

Aon and Willis Towers Watson Announce Shareholder Approval of Proposed Combination



DUBLIN, Ireland, Aug. 26, 2020 (GLOBE NEWSWIRE) -- Aon plc ("Aon") (NYSE:AON) and Willis Towers Watson Public Limited Company ("Willis Towers Watson") (NASDAQ:WLTW) today announced that their respective shareholders voted FOR all proposals at their respective extraordinary general meetings and at the special meeting of Willis Towers Watson shareholders ordered by the High Court of Ireland. Aon and Willis Towers Watson shareholders approved all of the proposals necessary to complete the previously announced combination of Aon and Willis Towers Watson. The combination, which remains subject to customary regulatory and other closing conditions, is expected to close in the first half of 2021. Upon the closing of the combination, Willis Towers Watson shareholders will receive 1.08 Aon shares in exchange for each Willis Towers Watson share they held immediately prior to the closing.

"On behalf of Aon's Board of Directors and executive team, I would like to thank our shareholders for their overwhelming support of the proposed combination with Willis Towers Watson," said Greg Case, Chief Executive Officer of Aon. "Our combination, which will accelerate innovation and strengthen our capability to provide more relevant solutions for clients, has only become more important through the COVID-19 pandemic. The events of 2020 are illustrative of the exact type of transformative long-tail risk our new organization will be best positioned to address, creating significant value for clients, colleagues, and shareholders."

John Haley, CEO of Willis Towers Watson, added, "Today marks an important milestone towards completing the transaction. The vote reflects our shareholders' confidence in this next step of our journey. We are pleased with the outcome of today's meetings and we thank all of our shareholders for their support of this combination that will bring together our complementary strengths and expand our capacity to address unmet client need."

These approvals are an important step in the process of combining the two companies. More information about the proposed transaction can be found at Combination of AON and WLTW.