RTTNews | Jun 17, 2021 02:59AM EDT

02:58 Thursday, June 17, 2021 (RTTNews.com) - The U.S. Department of Justice filed a civil antitrust lawsuit in the U.S. District Court for the District of Columbia to block Aon Plc.'s (AON) $30 billion proposed acquisition of Willis Towers Watson (WLTW), alleging that the deal could eliminate competition, raise prices and reduce innovation for U.S. businesses.

Responding to the U.S. Department of Justice action, Aon and Willis Towers Watson said that they disagreed with the department's action, which reflects a lack of understanding of business, the clients we serve and the marketplaces in which they operate.

Last year, Aon and Willis Towers Watson agreed to combine in an all-stock deal with an implied combined equity value of approximately $80 billion. Upon completion, Aon shareholders would own approximately 63% and Willis Towers Watson shareholders will own approximately 37% of the combined company. Closing of the deal was anticipated in the first half of 2021.

Read the original article on RTTNews ( https://www.rttnews.com/3203006/u-s-sues-to-block-aon-s-30-bln-acquisition-of-willis-towers.aspx)

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